Insurance shapes how cyber risk is priced, transferred, and investigated, influencing breach costs, security incentives, and liability.
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Background for this topic.
Cyber insurance transfers some financial risk from security incidents to an insurer under a contract. Policies may cover first-party costs such as forensic investigation, system restoration, notification, and interruption of the insured’s business, as well as third-party privacy or security claims. Coverage depends on limits, deductibles, exclusions, and the policy’s definitions; regulatory penalties and ransom payments, for example, may be restricted or unavailable in some jurisdictions.
For security practitioners, insurance makes evidence of controls an operational and legal concern. Underwriting and claims may examine multifactor authentication, protected backups, logging, vulnerability remediation, access control, and tested incident-response plans. Inaccurate application answers or failure to meet policy conditions can reduce or invalidate recovery. During a claim, organizations may also share sensitive personal, technical, and investigative information with insurers, brokers, lawyers, and responders, requiring careful privacy, confidentiality, and evidence-handling practices.
Taking advantage of the ridiculously complex US healthcare billing system Criminals masquerading as insurers are tricking patients and healthcare providers into handing over medical records and bank account information via emails and text messages, according to the FBI.…
Hackers associated with Scattered Spider tactics have expanded their targeting to the aviation and transportation industries after previously attacking insurance and retail sectors [...]
Identity is the new battleground—and Scattered Spider exploits it. Join Push Security to unpack how identity-based attacks are reshaping the threat landscape, and how to defend against MFA bypass, help desk scams, and more. Watch the webinar now. [...]
'IntelBroker' Faces Four-Count Indictment in Manhattan Federal CourtA hacker known online as "IntelBroker" and who has a history of spilling sensitive information faces a four-count criminal indictment in the United States after French police arrested him in February. IntelBroker's true identity is British national Kai West, U.S. federal Manhattan prosecutors said.
Voice Analytics Firm to Expand Footprint in Finance, Defense and InsuranceClearspeed will use its $60 million raise to build out teams and technology as it scales its AI-powered voice screening platform across finance, insurance and security sectors. CEO Alex Martin said the firm aims to double revenue and push into conservative sectors seeking AI-powered trust solutions.
Frustrations Over Preauthorization Denials Have Led to 'Violence in Streets'A dozen health insurance giants that provide coverage for about 80% of Americans with Medicare, Medicaid and commercial plans have agreed to work the U.S. Department of Health and Human Services to voluntarily streamline and improve their preauthorization processes.