Category: Cyber Insurance

Trump and Kanye West Bring Emphasis to #CyberAware Cybersecurity Awareness Month With Password Example

Posted on by Shawn E. Tuma

October is National Cyber Security Awareness Month in the United States. There is excellent cyber awareness content available by going to #CyberAware and #CyberAvengers hashtags on Twitter and visiting The #CyberAvengers Website for free resources, including this free Good Cyber Hygiene Checklist.

President Trump and Kanye West put a big ‘ole Texas-sized exclamation point on the [need for?] #CyberAware campaign with Kanye’s password demonstration while on national tv in the Oval Office.

Politicos will spin this a million ways. Security folks will go back and forth between laughing and crying — and maybe do both at the same time. But, the important thing is that we learn from this and use it as an example to help educate others. I thought there was no better way to do that than by putting “Trump”, “Kanye West”, “Password”, “Cybersecurity”, and “#CyberAware” in the title — how’s that for getting a wide range of attention? 🙂

All joking aside, what are the most important lessons you take away from this example and can you use this lightning rod example to help educate your team, family, and friends about good cyber hygiene?

5 Key Things In-House Counsel Can Do to Help Their Businesses’ Cybersecurity

Posted on by Shawn E. Tuma
internet screen security protection
Photo by Pixabay on Pexels.com

Cybersecurity is a team sport and many people within a business must work together to help effectively manage their businesses’ cyber risk. In-house counsel plays a critical role in this process. A recent Law360 article (subscription required) identified the following key things they can do:

  1. Develop, implement, and table-top test an incident response plan
  2. Advise executives on their ethical obligations (and make sure to mention insider trading on knowledge of cyber incidents)
  3. Have an awareness of applicable laws and regulatory standards
  4. Understand and help manage third-party risk from vendors and business partners

I am adding one more because it is critical: Ensure the business has appropriate cyber insurance to address its unique risks.

SecureWorld Post: 4 Key Cyber Insurance Takeaways for Companies from Spec’s v. Hanover Lawsuit

Posted on by Shawn E. Tuma

In my latest post for SecureWorld, explain 4 key takeaways for businesses from the Spec’s v. Hanover lawsuit regarding cyber insurance. Check it out and let me know what you think:  4 Key Cyber Insurance Takeaways for Companies from Spec’s v. Hanover Lawsuit

 

Target Data Breach: What Has It Cost? What Has Insurance Covered?

Posted on by Shawn E. Tuma

Target, in a recent document filed with the Securities and Exchange Commission, provided updated information on the financial impact of its 2013 data breach:

  • It now estimates paying $264 million in breach-related costs, ranging from litigation claims to the expenses it experienced for fixing systems and sending out information at the time of the attack (previous estimate were $252 million)
  • About $90 million has been covered by ­Target’s insurers

Source: Target: SEC won’t penalize it over 2013 data breach – StarTribune.com

Cyber Insurance: Social Engineering Not Covered Under “Computer Fraud” Insurance Provision

Posted on by Shawn E. Tuma

Losses stemming from social engineering scams like the business email compromise are not covered by “computer fraud” provisions of commercial crime insurance policies according to the Fifth Circuit Court of Appeals in Apache Corp. v. Great American Insurance Co. Continue reading “Cyber Insurance: Social Engineering Not Covered Under “Computer Fraud” Insurance Provision” →