Here is some data to consider: The US General Accounting Office (GAO) says the percentage of businesses buying cyber risk insurance jumped from 26% in 2016 to 47% in 2020. Here is why. Coalition insurance released some data from their claims history. Remote Desktop Protocol (RDP) continues to be a big problem according to Coalition […]
Continue reading → [DISPLAY_ACURAX_ICONS]There are two types of companies – those who have been hacked and those that will be. – Former FBI Director Robert Mueller. Some people modified that quote to read – those who have been hacked and those that don’t know that they have been hacked. Which ever version of this saying that you prefer, […]
Continue reading → [DISPLAY_ACURAX_ICONS]When you renew or try to obtain cyber insurance, the questions have historically been pretty lame. But, in the face of large losses, insurance companies are STARTING to get serious. Here is a report from one company on what their insurance company asked at renewal time. This is from an actual application. How would you […]
Continue reading → [DISPLAY_ACURAX_ICONS]Early this month, New York’s Department of Financial Services, the regulator for banks and insurance companies, issued guidance on cybersecurity insurance. Unfortunately, the guidance was not to insurance customers; it was for insurance companies. The regulator is concerned that big breaches may cause insurance companies to go out of business. DFS advised insurers against paying […]
Continue reading → [DISPLAY_ACURAX_ICONS]The law firm of Bryan Cave has done some interesting analysis. On January 1, 2020, California became the first U.S. state to allow a breach victim to sue a company that was breached without having to prove they were damaged. The breach alone was proof of damage. The amount any one person can sue for […]
Continue reading → [DISPLAY_ACURAX_ICONS]We have been trained by the insurance industry that you buy insurance and if you have an event, you make a claim and get paid. For the most part, with your auto insurance or your homeowners insurance, that is the way it works. Rarely, but sometimes, you discover that you don’t have the right coverage […]
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