Cyberinsurance isn’t new, but five years into widely available policies, many companies still don’t have policies in place.<\/p>\n","protected":false},"excerpt":{"rendered":"
“As specialist insurance becomes more affordable, I expect the take up to increase,” said Oliver Brew, a technology underwriter for London-based Hiscox Plc.<\/p>\n
Because of vaguely worded state and federal regulations and the impossibility of 100% network security, a new type of insurance claim is emerging — one that protects insured enterprises against privacy-related lawsuits under provisions of the Graham-Leach-Bliley Act, California State Bill 1386 and other regulations.<\/p>\n
“We are seeing breach of privacy claims due to unauthorized access to or use of personal identifiable information,” said Peter Foster, senior vice president and co-leader of the information risk management practice at Marsh Inc., a leading risk and insurance services firm. “Regulatory requirements to publish the breach incident are triggering multi-party lawsuits that have cost insurers excess of $1 million per incident in some cases.”<\/p>\n
Cyberinsurance covers a number of other areas often not available in traditional business policies, including denial-of-service attacks, damage cased by hackers, malicious insiders, worms and viruses, and electronic theft of confidential information.<\/p>\n
http:\/\/searchsecurity.techtarget.com\/originalContent\/0,289142,sid14_gci1084419,00.html<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-2094","post","type-post","status-publish","format-standard","hentry","category-trends"],"_links":{"self":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/2094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=2094"}],"version-history":[{"count":1,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/2094\/revisions"}],"predecessor-version":[{"id":4581,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/2094\/revisions\/4581"}],"wp:attachment":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=2094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=2094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=2094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}