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Bank Info Security 2 months, 3 weeks ago

Poor Risk Analysis Cost 4 Firms $1.7 Million in HIPAA Fines

HHS OCR Breach Investigators Again Find All-Too-Common Risk Analysis FailuresFaulty or non-existent security risk analyses cost a medical imaging provider, a women's healthcare group, a health plan and a third-party insurance administrator a collective $1.7 million in fines after federal regulators concluded they didn't do enough to prevent ransomware attacks.

Bank Info Security 2 months, 3 weeks ago

Setbacks Cost Healthcare Firms $1.7M in HIPAA Fines

HHS OCR Breach Investigators Again Find All-Too-Common Risk Analysis FailuresFaulty or non-existent security risk analyses cost a medical imaging provider, a women's healthcare group, a health plan and a third-party insurance administrator a collective $1.7 million in fines after federal regulators concluded they didn't do enough to prevent ransomware attacks.

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.

Landmark Admin Compromise Affects More Than a Dozen Insurance and Annuity CarriersLandmark Admin, a third-party vendor that provides administrative services to life insurance and annuity companies, said 1.6 million people are potentially affected by 2024 ransomware and data exfiltration incidents that compromised a wide range of personal, financial and health information.

Bank Info Security 1 year, 10 months ago

Ransomware Hackers Steal Medical Insurance Data of 1M People

Young Consulting Says Health Data Exposed; Ransomware Group Leaked Stolen DataYoung Consulting, which develops software for the stop-loss insurance market, is notifying 1 million individuals that their personal information was stolen earlier this year in a hack attack. The BlackSuit ransomware group, a rebrand of Royal, subsequently claimed credit and leaked stolen data.

Insurance Giant Says Hackers Stole Data of 2.5 Million IndividualsA February ransomware attack against Prudential Financial affected 2.5 million customers, the financial giant disclosed after initially calculating the totally as 36,000. In an emailed statement, Prudential said the tally shouldn't increase a second time.

InfoSys McCamish Systems Earlier Alerted 57,000 Bank of America Clients of BreachInfosys McCamish Systems, an insurance software product and services vendor, is notifying nearly 6.1 million people of a 2023 ransomware incident that potentially comprised their sensitive data, including Social Security numbers, medical treatment, and financial and biometric information.

Also: The US Supreme Court; Polyfill; BEC Compromise for Frozen ChickenThis week, cyber insurance policies fell short, the Supreme Court rejected efforts to fight disinformation, Polyfill apparently was hijacked, cybercriminals stole chicken, Levi warned of a credential stuffing attack, hackers targeted Android devices, and a lab in South Africa was hit by ransomware.

The Company Will Start Notifying Individuals Affected by the Breach in Late JulyChange Healthcare says it has begun to notify customers whose data was compromised in the February ransomware attack that affected scores of healthcare providers, health insurance plans and other organizations. The company will begin to notify affected individuals in late July.

Bank Info Security 2 years, 2 months ago

ISMG Editors: Why Synthetic ID Fraud Is on the Rise

Also: More Support for Ransomware Victims, Key Takeaways From RSA 2024In the latest weekly update, ISMG editors discussed key takeaways from the RSA Conference, delve into the surge of synthetic ID fraud in the auto lending industry, and examine a new initiative by the UK's National Cyber Security Centre and major insurance associations to combat ransomware threats.

Bank Info Security 2 years, 2 months ago

Cyber Insurers Pledge to Help Reduce Ransom Payments

Firms Back New Guidance for Victims From UK's National Cyber Security CentreA coalition of cyber insurance associations has pledged to back fresh government cybersecurity guidance designed to help victims avoid ever paying a ransom, as part of an ongoing push to reduce ransomware's profitability for criminals in part by improving organizations' resilience and recovery.

Bank Info Security 2 years, 4 months ago

UK Conservatives Say 'No' to Cyber Insurance Backstop

Committee Chairs Accuses UK of Favoring an 'Ostrich Strategy' For RansomwareThe Conservative government of British Prime Minister Rishi Sunak says it won't champion a reinsurance plan for cyber insurance similar to flood insurance, telling a parliamentary committee it doesn't want to "damage competition." Global ransomware payments surged to record levels during 2023.

Bank Info Security 2 years, 5 months ago

Insurance Broker Notifying 1.5 Million of Health Info Hack

California Firm Said August Attack Affected Clients' DataA California insurance broker that handles employee benefits, workers' compensation and property liability is notifying more than 1.5 million individuals about a ransomware/data exfiltration attack last August that involved health insurance information, passport numbers and Social Security numbers.