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Josephine Wolff on Why Healthcare Must Scrutinize Cyber and AI CoverageHealthcare organizations face growing pressure to reassess cyber insurance policies as cyberattacks disrupt patient care and AI tools introduce new liability risks. Josephine Wolff of Tufts University discusses how exclusions, compliance demands and AI-related uncertainty shape insurance decisions.

Bank Info Security 3 months ago

Stryker Hack Affects First Quarter Results

Stryker Has Said It Doesn't Carry Cyber insuranceStryker notified regulators that its March cyberattack will impact the medtech maker's first quarter financial results. The company also does not appear to have a cyber insurance policy in place to help cover costs associated with the disruptive incident claimed by Iranian hackers.

Bank Info Security 10 months, 2 weeks ago

US Senators Call for Details of Aflac Data Breach

Senate HELP Committee Leaders Ask Insurer: What Went Wrong in the Cyberattack?A U.S. Senate committee is demanding details from insurance giant Aflac about the company's recent cyberattack that compromised the personal and health information of a yet undisclosed number of Americans. Senators last year gave the same scrutiny to the Change Healthcare mega-breach.

Bank Info Security 10 months, 3 weeks ago

Farmers Insurance, Aflac Report Data Breaches to Regulators

Farmers' HIPAA Breach Affects 1.1 Million; Aflac Is Still Counting VictimsTwo major U.S.-based insurers - Farmers Insurance and Aflac Inc. - have each reported to regulators data breaches involving two recent separate cyberattacks. The breaches follow a spring and summer spree of data exfiltration incidents that hit multiple large players in the insurance sector.

Experts Suspect Scattered Spider Is Behind Rash of Recent Insurer BreachesAflac is the latest insurance company dealing with a cyberattack. The company is investigating a cyber incident that did not involve ransomware encryption of its IT systems, but did potentially compromise data. Experts suspect Scattered Spider is behind the recent rash of insurance incidents.

Erie Insurance and Philadelphia Insurance Still Recovering From Separate AttacksStatements by Erie Indemnity Co. and Philadelphia Insurance Companies indicate that voluntary decisions to disconnect their systems from the network - not ransomware encryption - have disrupted operations over the past 10 days since the carriers were hit with separate cyberattacks.

Erie Insurance and Philadelphia Insurance Still Recovering From Separate AttacksStatements by Erie Indemnity Co. and Philadelphia Insurance Companies indicate that voluntary decisions to disconnect their systems from the network - not ransomware encryption - have disrupted operations over the past 10 days since the carriers were hit with separate cyberattacks.

Bank Info Security 1 year, 1 month ago

Scattered Spider Targeting American Insurance Firms

Hackers Posing as Help Desks and Call Centers to Target Victims, Google WarnsA hacking collective behind recent cyberattacks on major British retailers has pivoted to target U.S. insurance firms, warned Google. Scattered Spider, tracked as UNC3944 by Google, is a financially motivated threat group consisting largely of English-speaking adolescents.

Bank Info Security 2 years, 3 months ago

Firm Says Medicare Info Obtained From DOJ Breached in Attack

Nearly 342,000 Affected; Health Data Incident Isn't Covered by HIPAA RulesA cyberattack on a Boston-based consulting firm that provides litigation support services to the U.S. Department of Justice in its investigations has potentially compromised Medicare numbers and other health insurance and medical information of nearly 342,000 individuals.

Bank Info Security 2 years, 4 months ago

Optum Offering Financial Aid to Some Providers Hit by Outage

But Hospital Lobby Group Contends Funding Is 'Onerous' and 'Exceedingly' LimitedTwo weeks into a major cyberattack-induced outage at its Change Healthcare business, UnitedHealth Group is offering short-term financial aid to some healthcare providers whose cash flows may be running short because of the disruption in insurance payments. But not everyone is impressed.

Bank Info Security 2 years, 6 months ago

Insurers Drop Bid to Exclude Merck's $1.4B NotPetya Claims

A Settlement Has Been Reached. So, How Might This Affect Similar Cases?A proposed settlement has been reached between Merck & Co. and several insurers that were appealing a 2023 court decision saying the insurance companies could not invoke "hostile warlike action" exclusions in refusing to pay drugmakers' claims filed after the 2017 NotPetya cyberattack.