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!
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…
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…
Continue Reading Anthem agrees to pay $115 million for 2015 cyber intrusion to settle litigation!
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…
Continue Reading Honda plant halted operations because of WannaCry Ransonware!
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…
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…
Continue Reading IBM Blockchain & AIG team up for “Smart Insurance”
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…
Continue Reading GUEST BLOG: Pacemakers (Think IoT) are not Cybersecure, does that bother you?
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…
Darkreading reported a 4+ year jail sentence for stealing airline tickets by using “phishing campaigns targeted customers of Travelport and Sabre, causing phishing emails to be delivered to their customers for the purpose of obtaining and stealing their unique log-in credentials.” On June 5, 2017 the Department Justice issued a…
The Independent reported that Wallie Walsh (Chief of British Airways’ owner International Airlines Group) broke his silence about BA’s IT failure last week that left 75,000 travelers stranded saying “it was not an IT failure, it was a problem caused by the failure of electrical power to our IT systems.”…
