Reuters reported that Danish insurance company Tryg issued a second quarter report that it “sold 2,800 cyber insurance policies in the quarter, up from 700 between January and March.” The July 11, 2017 report entitled “Tryg sees rapid rise in cyber insurance sales after Wannacry” included this comment
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10 Questions you should ask about SLAs (Service Level Agreements) -which aren’t really Agreements!
By Peter Vogel on
Many cloud agreements I negotiate fail to include any details about SLAs, so you may want to look at the CIO.com article about the details about SLAs which are general performance levels for IT services, but not an Agreement rather a SLA “is simply a document describing the level of…
Cyber insurance premiums grew 35% in 2016 -over $1.3 Billion!
By Peter Vogel on
A.M. Best reported that the top “cyber insurance writers have shifted away from writing packaged policies to standalone coverage by nearly a 70-30 split on the $1.3 billion of direct premiums written in 2016,…and this shift mainly results from many insurance companies realizing that tailored coverage forms addressing cyber liability…
Continue Reading Cyber insurance premiums grew 35% in 2016 -over $1.3 Billion!
Google fined $2.7 BILLION!
By Peter Vogel on
The NPR reported that Google violated EU antitrust laws as it “denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation.” The June 27, 2017 article entitled “Google…
Anthem agrees to pay $115 million for 2015 cyber intrusion to settle litigation!
By Peter Vogel on
BusinessInsurance.com reported that “Anthem Inc., the largest U.S. health insurance company, has agreed to settle litigation over a hacking in 2015 that compromised about 79 million people’s personal health information for $115 million, which lawyers said would be the largest settlement ever for a data breach.” The June 26, 2017…
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Honda plant halted operations because of WannaCry Ransonware!
By Peter Vogel on
The Financial Times reported that the “Japanese carmaker revealed that it temporarily halted production at its Sayama plant, northwest of Tokyo, after it discovered that some of its computers were affected by the ransomware late on Sunday.” The June 21, 2017 Financial Times report entitled “Honda plant hit by…
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7 Flavors of CyberCrimeware as a Service (CaaS) includes Ransomware as a Service (RaaS)!
By Peter Vogel on
Darkreading reported that inexpensive CaaS include malware “botnets, phishing and backdoors are all offered on the cheap as subscription. These days even crime is in the cloud.” The June 13, 2017 Darkreading report was entitled “The Rising Tide of Crimeware-as-a-Service” included these comments about RaaS:
The incipient rise…
IBM Blockchain & AIG team up for “Smart Insurance”
By Peter Vogel on
Reuters reported that “AIG and IBM completed a pilot of a so-called “smart contract” multi-national policy for Standard Chartered Bank PLC which the companies said is the first of its kind using blockchain’s digital ledger technology.” The June 15, 2017 report entitled “AIG teams with IBM to use blockchain…
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GUEST BLOG: Pacemakers (Think IoT) are not Cybersecure, does that bother you?
By Peter Vogel on
My Guest Blogger Eddie Block (CISSP, CIPM, CIPP/G, CISA, CEH) is a senior attorney in Gardere’s Litigation Group and member of the Cybersecurity and Privacy Legal Services Team who focuses on all aspects of information cyber security, including credentialing functions, firewall and IDS deployment and monitoring, and penetration testing, and…
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No surprise about cyber risks in V2V (Vehicle to Vehicle) – Think “Driverless Cars”!
By Peter Vogel on
A New York Times report that protecting driverless cars from cyber attacks is the “primary challenge will be preventing hackers from getting into the heart of the car’s crucial computing system, called a CAN (or computer area network).” The June 7, 2017 report entitled “Electronic Setups of Driverless Cars…