The release of the NetDiligence® 2015 Cyber Claims Study, the only one of its kind, reveals the most current data on cyber security events and their true costs. NetDiligence President Mark Greisiger shares the latest findings, including the top areas of concern for both insurers and the C-Suite.
A Q&A with J.T. Malatesta of Maynard Cooper & Gale
Medical Informatics Engineering and subsidiary NoMoreClipboard revealed a breach last month affecting up to 3.9 million Americans which has now resulted in a series of class action lawsuits on behalf of victims. The incident is causing headaches for risk managers in the healthcare sector, including their cyber liability insurers. This event underscores how a catastrophic breach for one dominant service provider (in this case, Medical Informatics Engineering, the software company that provides the NoMoreClipboard service) can create a domino effect that impacts multiple organizations. Many insurers are also rightfully concerned about aggregated risk, since they could have multiple insureds and claims stemming from a single event such as this one. I spoke with J.T. Malatesta, chair of the cybersecurity practice of Maynard Cooper & Gale, about the implications of this event and how organizations can better prepare for vendor breaches.
A Q&A with Ben Barnow of Barnow Associates PC
The decision in the recent Neiman Marcus case was a game changer for the swiftly evolving legal climate around data breach events. By establishing the theory of “likely future fraud or injury” the court recognized that plaintiffs no longer have to prove the “impending certainty” of potential injury (as was previously established by the 2013 decision in Clapper v. Amnesty International). To find out more about its impact we talked to Ben Barnow of Barnow Associates PC.
A Q&A with Zeb Ahmed of iland
While most companies seem to understand that preparation is necessary for worst case scenarios, there’s often confusion about what backup services can and can’t do, says Zeb Ahmed of iland. I asked Zeb about the differences between backup and disaster recovery and how organizations can determine which service they might need.
A Q&A with John Yanchunis of Morgan & Morgan
The legal landscape around data loss is rapidly evolving, and with major events such as the Anthem breach changing the game on a daily basis, it can be a challenge to keep up with the courts’ current thinking. I spoke with plaintiff attorney John Yanchunis of Morgan & Morgan about some of the most recent developments he’s observed.
A Q&A with John Sileo, Sileo Group
Data security and privacy are a growing concern among educational institutions, with some 727 breaches taking place in higher education from 2005-2014, according to the Privacy Rights Clearinghouse. I spoke with John Sileo of The Sileo Group about the reasons this space has become particularly vulnerable to data loss.
A Q&A with Dominic Paluzzi McDonald Hopkins
In late January 2015, the White House introduced the Personal Data Notification and Protection Act (PDNPA), a data breach notification bill, intended to improve national cybersecurity. I asked attorney and breach coach Dominic Paluzzi of McDonald Hopkins about how this bill differs from the existing laws and its potential implications for risk managers.
A Q&A with Nick Beecroft of Lloyd’s of London
New regulation and awareness around growing threats such as operational attacks is changing the face of the European insurance market. I talked to Nick Beecroft, emerging risks and research manager at Lloyd’s of London, about his work assessing cyber vulnerabilities and helping develop products to address them.
A Q&A with Barbara Anthony, Undersecretary of Massachusetts Office of Consumer Affairs and Business Regulation
Since 2009, Massachusetts has been releasing reports on the state’s data breaches. In 2013, the state received over 1,800 notifications for breach events that had the potential to impact over 1.2 million residents. I asked Barbara Anthony about the current state of affairs in Massachusetts and the data security threats she sees on the horizon.
A Q&A with Melanie Thomas of INFORM
It’s just one of many pressing concerns during a cyber security event, but public relations and crisis communications are absolutely essential for sustaining customer loyalty and brand reputation long after the headlines fade. I spoke with Melanie Thomas of INFORM about how these services work and what companies can do right now to prepare for an emergency situation.