data breach News

Businesses Need to be Better Prepared for Cyberattacks

Results of a study on corporate confidence in responding to a data breach are in and of the 604 executives who responded, just 34 percent feel their company’s data breach response plans are effective. Though data breaches ranked second only …

Cyber Claims Handling Strategy Still Evolving

Reinsurance executives polled at the recent 2015 PCI annual meeting by Guy Carpenter & Company agreed that cyber continues to be the most threatening emerging risk. As the number of data breaches mount, more focus is being placed on the …

Hackers Charged in Huge Cyberfraud Scheme Targeting U.S. Financial, Media Companies

U.S. prosecutors on Tuesday unveiled criminal charges against three men accused of running a sprawling computer hacking and fraud scheme that included a huge attack against JPMorgan Chase & Co and generated hundreds of millions of dollars of illegal profit. …

The Growing Problem of Identity Theft

More than 675,000 records were exposed by data breaches in the U.S. in 2014, according to the California-based Identity Theft Resource Center, a non-profit organization aimed at helping consumers. Since breaches began being tracked in 2005, they have risen by …

Survey: CEOs Overestimate Coverage for Cyber and Reputation Risks

According to the 2015 International Business Resiliency Survey, conducted by Marsh, a global insurance and risk management broker, and Disaster Recovery Institute International (DRII), firms consider cyber and IT-related risks to be the most likely to occur and have the …

Guy Carpenter Examines Emerging Risks Impact on the Reinsurance Industry

Cyber, technology and casualty catastrophe and reserving are three key risks affecting property/casualty insurers that continue to emerge, according to Guy Carpenter & Company, a wholly owned subsidiary of Marsh & McLennan Companies. In a new report published this month, …

Education Tech Companies Get Lots of Personal Data on Students

What kid wouldn’t want to be able to create an electronic science fair poster, with photos and embedded video, using their smartphone – all on the morning bus ride on the day it’s due? Glogster EDU lets kids do that …

Federal Appeals Court Rules That FTC has Power to Police Cybersecurity

A U.S. appeals court said the Federal Trade Commission has authority to regulate corporate cybersecurity, and may pursue a lawsuit accusing hotel operator Wyndham Worldwide Corp of failing to properly safeguard consumers’ information. The 3-0 decision by the 3rd U.S. …

Even When Deleted, Online Information Isn’t Gone

The Ashley Madison hack is a big reminder to all Web users: If you submit private data online, chances are it will never fully be deleted. The hackers, who stole the data about a month ago and then posted it …

AIG Offers Property Damage Coverage for Cyberattacks

A three-hour shutdown of the New York Stock Exchange on the same day that a network failure halted all United Airlines flights in the U.S. had people across the country thinking one thing: cyberattack. It wasn’t, but the July 8 …