The Source for Cyber Insurance News, Insights and Data
I read it and thought this isn’t new, “97% of Leading U.S. Banks Impacted by Third-Party Data Breaches in 2024.” I went to check on SecurityScorecard’s website. I was wrong; it is new, and I’d confused it with this press release from last month, “97% of Top U.S. Retailers Experienced a Third-Party Breach.” While my … Read more
A new report from data management firm NetApp reveals that one in five companies—20 percent—fail to regain data lost as a result of a cyberattack, a scenario as devastating as a flood in which one in every five damaged homes is never rebuilt, leaving their owners with no option but to start over from scratch. … Read more
When GEICO and Travelers were hacked, stealing personal information from over 120,000 New Yorkers. They exploited vulnerabilities in online auto insurance quoting tools to obtain driver’s license numbers and dates of birth. The stolen data was later used to file fraudulent unemployment claims during the peak of the COVID-19 pandemic. The Geico Travelers Hack Starting … Read more
When we saw 97% on a grade school test, it meant we did well. For America’s top retailers, that number signals trouble. A new report by cybersecurity firm SecurityScorecard reveals that 97% of the top 100 U.S. retailers experienced third-party data breaches in the past year. You could peg this to the coming holiday shopping … Read more
Cyber insurance claims and risks are surging as premiums dip, putting the industry in a precarious position. Despite strides in cybersecurity protocols, insurers are struggling to keep up with an onslaught of complex and frequent cyber incidents. From large-scale data breaches to double extortion ransomware, the threats can seem countless. Industry experts warn that if … Read more