Time Warner Cable, now known as Spectrum, became the latest company to realize exactly how vulnerable its data is when a third-party vendor entrusted with its safety made an error exposing millions...
By now you know that credit reporting agency Equifax was hacked, and with it, potentially 143 million Americans social security numbers, birth dates, and then some. Unless, according to the...
Equifax Inc.’s insurance against cyber breaches is likely inadequate to cover the credit-reporting company’s costs tied to one of the biggest hacks in history, according to people familiar with the...
The EU’s landmark General Data Protection Regulation (GDPR) has the potential to set a new gold standard for data protection – considerably improving protections for consumers in the EU and...
In the wake of WannaCry and other ransomware attacks, risk professionals view cyber extortion as the leading first-party exposure for their organisation.
That is one of the findings of the 2017 Rims...
Organizations with standalone cyber insurance policies increased three points from 2016 to 83%, according to the 2017 RIMS Cyber Survey.
“Risk professionals’ continued to show confidence in...
The impacts of high profile cybercrime incidents like WannaCry and Petya continue to ripple through the insurance industry and the wider economy. Not only have these massive hacks prompted an...
Experian Data Breach Resolution and Ponemon Institute Find Organizations Are Not Ready for Global Security Risks and Regulations
Only 9 percent of companies are prepared for the Global Data...
The workforce of the 21st century is priming itself for an automated future, and the consequences that follow: a shift toward strategic collaboration with intelligent software that will deeply...
Beazley, a pioneer in cyber and data breach response insurance, today released its Beazley Breach Insights findings based on its client data in the first six months of 2017.
Ransomware...
At Beazley, we see first-hand the impact of cyber breaches on organizations of all types and sizes. Our Beazley Breach Response (BBR) data breach insurance is backed by our dedicated in-house...
While digitisation is revolutionising business and daily life, it is also making the global economy more vulnerable to cyber-attacks. As the cyber threat grows so the demand for cyber insurance...
DLA Piper is still recovering from last week’s cyber attack, with insurance brokers saying that the resulting upheaval could lead to costs “in the millions”.
The firm, which...
A.M. Best reported that the top “cyber insurance writers have shifted away from writing packaged policies to standalone coverage by nearly a 70-30 split on the $1.3 billion of direct premiums written...
Over the past few decades the internet has enabled extraordinary innovation to take place, creating new business models, giving rise to world-changing companies and generating millions of jobs.
But...
Panicking won’t get you anywhere once you’ve discovered a data breach. Accept that it’s happened and immediately contact your legal counsel for guidance on initiating these 10 critical steps:
Record the date and time when the breach was discovered, as well as the current date and time when response efforts begin, i.e. when someone on the response team is alerted to the breach.
Alert and activate everyone on the response team, including external resources, to begin executing your preparedness plans.
Secure the premises around the area where the data breach occurred to help preserve evidence.
Stop additional data loss. Take affected machines offline but do not turn them off or start probing into the computer until your forensics team arrives.
Document everything known thus far about the breach: Who discovered it, who reported it, to whom was it reported, who else knows about it, what type of breach occurred, what was stolen, how was it stolen, what systems are affected, what devices are missing, etc.
Interview those involved in discovering the breach and anyone else who may know about it. Document your investigation.
Review protocols regarding disseminating information about the breach for everyone involved in this early stage.
Assess priorities and risks based on what you know about the breach.
Bring in your forensics firm to begin an in-depth investigation.
Notify law enforcement, if needed, after consulting with legal counsel and upper management
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