Right now cyber related D&O’s are rare but that is expected to change due the ever increasing number data breaches, which can open the door for class action lawsuits against directors and executives. Read the Business Insurance article.
A recent survey by Guy Carpenter & Co. L.L.C. has found that “cyber attacks and terrorism are the most threatening emerging risks for the insurance and reinsurance industry in 2015.” Click here for more on the survey.
Pennsylvania is in the process of making the password obsolete. The state is pushing people to adopt the “Keystone ID so citizens don’t have to divulge their Social Security numbers and other sensitive data to agencies and retailers – and fraudulent websites, phishing scammers and everyone else who asks for it.” Click here for more details about Pennsylvania’s new security initiatives.
Small and midsized businesses are increasingly being targeted by less advanced, low-level hackers because enhanced software such as the Predator Pain and Limitless malware kits are more accessible than ever before. These kits are capable of “not only capturing keystrokes and credentials, but also geo-locates, intercepts emails and instant messages, and even reconfigures the compromised email account to send the criminal the victim’s emails directly — all while automatically encrypting the back-channel communications.” Click here for more details.
Thinking about transitioning to a bring-your-own-device policy? Over half of IT professionals believe that risks associated with such a policy outstrip the benefits involved according to a survey of 452 IT professionals. Click here for the survey.