Disaster Insurance Article
Recovery Diva
JUNE 21, 2023
From HSNW: Why Insurance Companies Are Pulling Out of California and Florida, and How to Fix Some of the Underlying Problems. Author is Prof. Melanie Gall of ASU.
How Insurance Companies Can Align with the NAIC 2024 Strategic Priorities using ERM
LogisManager
MARCH 7, 2024
How Insurance Companies Can Align with the NAIC 2024 Strategic Priorities using ERM Last Updated: March 7, 2024 What are the NAIC Strategic Priorities for 2024? The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization for the state-based insurance regulatory system.
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How to Set Up a Secure Isolated Recovery Environment (SIRE)
Pure Storage
MARCH 28, 2025
This is because: The authorities or investigators may confiscate or quarantine equipment for forensic review Insurers may not let you use it Internal teams may need it So what do you need to have ready to get back online as soon as possible? Dont assume you can salvage even the uncompromised functions.
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A Resilience Charter
Emergency Planning
MARCH 23, 2022
Civil protection must be developed at the local authority level, coordinated regionally and harmonised nationally. Government should provide support to voluntary organisations and consider legislating on employment protection (for those who are abruptly required to carry out emergency work) and accident and liability insurance.
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Don't let cybersecurity frameworks scare you, you're already working towards compliance
Scott R. Davis
APRIL 24, 2023
Cyber insurance policy insurers are following suit with new multi-page questionnaires outlining what your potential risk is to determine your coverages and premium or in some cases now the denial of your coverage.
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Unleashing the Power of Unstructured Submission Data
Chisel AI
SEPTEMBER 22, 2021
“Data is the lifeblood of insurance companies. Insurance companies compete on analytics and algorithms, and they compete on experiences. This is our equivalent of that physical capital that Tesla has to invest in.
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SIA New Member Profile: Intego Warranty
Security Industry Association
SEPTEMBER 7, 2023
Intego’s protection plan liabilities are 100% insured and backed by an AM Best A-Rated insurance carrier. The views and opinions expressed in guest posts and/or profiles are those of the authors or sources and do not necessarily reflect the official policy or position of the Security Industry Association.
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What Is Cyber Extortion? Tips for Securing Your Data
Pure Storage
DECEMBER 17, 2024
Also, cyber insurance premiums have risen dramatically as insurers face increasing claims, further straining budgets. Note that authorities often advise against paying ransoms, as it encourages further attacks and doesnt guarantee data recovery. Businesses sometimes spend upwards of $1.4
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Ransomware Attacks Leave Businesses Around the World Reeling
LAN Infotech
FEBRUARY 13, 2022
What’s more, ransomware uses a TOR browser that makes it difficult for law enforcement authorities to locate ransom websites on the dark web. Even if the authorities start tracing a wallet, cybercriminals use a bitcoin mixer to make it even harder to trace the payment. Insurance carrier. Legal team.
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Impact tolerance in operational resilience: A guide for businesses
everbridge
MARCH 6, 2025
Operational resilience has become a defining priority for organizations in sectors like finance and insurance, especially in the UK and Europe. Aligning with regulatory expectations Global regulatory frameworks increasingly demand that organizations define and maintain impact tolerances to demonstrate operational resilience.
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Ransomware and Healthcare Payers: What Can You Do to Protect Yourself
Pure Storage
APRIL 17, 2024
If a ransomware event happens, payer organizations can’t process authorizations, check eligibility for benefits, and often cannot connect with their providers or members. SafeMode provides an immutable copy of data that cannot be deleted unless the authorized personnel at a customer site call Pure directly.
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How to Create a Data Breach Response Team
Pure Storage
MARCH 21, 2022
Responsibilities of the communications role can include writing and sending internal and external communications about the incident, as well as contacting critical partners, authorities, external tech vendors, and affected customers with updates about remedial action being taken. Other Contacts to Know.
5 Key Takeaways from the EU’s Digital Operational Resilience Act (DORA)
Pure Storage
JANUARY 11, 2024
The action came after the Financial Conduct Authority (FCA) along with the Bank of England (BoE) and the Prudential Regulation Authority (PRA) issued their operational resilience policy in March 2021. The act applies to banks, insurance companies, investment firms, and the like, but it also includes critical third parties.
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Free eBook: A Former Hacker Explains How to Fight Ransomware
Pure Storage
AUGUST 4, 2021
With high-dollar insurance policies and the anonymity of cryptocurrencies, it’s more lucrative than ever. With firsthand experience, the authors explain the full life cycle of a ransomware attack so you can design a top-to-bottom response policy that guides you through each phase. How hackers identify ideal targets.
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Can a Shredding Company Recover Lost Profit After a Truck Accident?
Prism International
JUNE 14, 2023
A shredding company may have the right to pursue lost income from an at-fault driver and the at-fault driver’s insurance company after an accident. Insurance claims: The shredding company should consider filing a claim with the at-fault driver’s insurance company right away.
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How to Set Up a Staged Recovery Environment
Pure Storage
FEBRUARY 28, 2022
This is because: The authorities or investigators may confiscate or quarantine equipment. Insurers may not let you use it. Immediately following a breach or event , you should consider your existing environment closed for business until further notice. Don’t assume you can salvage even the uncompromised functions.
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Do Cyber Risks Lurk in Your Business Ecosystem?
NexusTek
OCTOBER 25, 2023
Penetration testing: This is an authorized, simulated attack on a company’s IT systems, which helps it to identify existing vulnerabilities. Cyber insurance: Such policies help to cover costs related to cyber incidents and indicate that a third party is paying attention to cyber risk management.
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Guest Opinion: Why It’s Time to Get Serious About the Risk of Commercial Drones
Security Industry Association
SEPTEMBER 9, 2022
Venues that support large public gatherings tend to be unprepared for a drone event and have even less authority to do something proactive. Additionally, business owners who do host the public are in a high-risk environment, while insurance companies wrestle with the appropriate level and terms for coverage.
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World Backup Day: Four Data Protection Best Practices to Know
Pure Storage
MARCH 29, 2024
It has been republished with permission from the author. They will often try to discover cybersecurity insurance limits, critical operations your organization is running, and where and to whom services are provided, all in an effort to understand where an attack can do the worst damage.
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5 Ransomware Recovery Steps to Take After a Breach
Pure Storage
DECEMBER 6, 2021
Continue forensics efforts and work in tandem with the proper authorities, your cyber insurance provider, and any regulatory agencies. The planning should also include critical infrastructures such as Active Directory and DNS. Without these, other business applications may not come back online or function correctly.
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Evergreen//One Offers the First STaaS Ransomware Recovery SLA to Ship Clean Arrays
Pure Storage
JUNE 14, 2023
That means that any affected array flagged for forensic investigation by insurance or law enforcement cannot be used and needs to be left alone. Traditionally this involves multiple parties to be on the same call to authorize these changes. Without the data storage infrastructure to get systems back up and running, you’re stuck. “By
Managing Sanctions Risk from Russia’s War on Ukraine
Risk Management Monitor
MARCH 3, 2022
Be sure to engage with regulators, enforcement agencies, banks and insurers for guidance. Sanctions will change in response to security and political developments over the coming weeks and months, so it is important to stay informed of any communications from authorities. What do you do as sanctions regimes evolve?
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5 Questions to Ask Your CISO
Pure Storage
AUGUST 2, 2021
Contacts within local offices of law enforcement authorities such as the FBI in the United States may also serve useful. Also, include cyber insurance providers that can explain coverages and limitations. Also critical: preparing an external communications plan for working with the media, regulators, and legal teams.
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Your Recall Task Force
Marketpoint Recall
JUNE 14, 2018
Your finance team are there to ensure the right insurance is purchased and to provide the documentation that the regulatory authorities require throughout a recall. Messaging should be checked to ensure they are compliant with authority guidelines and to ensure that false promises are not being made. Who should be in it?
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TSPs: Making the Case to Invest in Risk and Resiliency
Fusion Risk Management
SEPTEMBER 12, 2022
Ability to Procure Cyber Insurance. According to an article in Insurance Business America , the cyber insurance market started to harden in 2020 after a surge in ransomware events. Fusion’s solutions serve as a data hub for risk and resiliency, enabling you to : .
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RIMS ERM Conference 2021: A Case-Study Approach to “Solve Any DEI Issue in One Hour”
Risk Management Monitor
NOVEMBER 11, 2021
In one of the afternoon’s sessions, “Identify and Solve Any Organizational DEI Issue In One Hour,” presenter Layne Kertamus, professional in residence of risk management and insurance at Utah Valley University, explored “new ways to talk about what needs to be said, and what needs to be listened to.”.
Business Continuity as a Business Strategy
Disaster Recovery Journal
AUGUST 5, 2020
Mintzberg, a doctoral professor of management at McGill University and author, considers business strategy as an organizational perspective of the business environment. The firm had an advantage in understanding the legal frustrations surrounding insurance claims, city investigations, and client services.
Business Continuity as a Business Strategy
Disaster Recovery Journal
AUGUST 5, 2020
Mintzberg, a doctoral professor of management at McGill University and author, considers business strategy as an organizational perspective of the business environment. The firm had an advantage in understanding the legal frustrations surrounding insurance claims, city investigations, and client services.
What Can We Learn From The Recent Outbreak of Fighting in Sudan
Plan B Consulting
MAY 1, 2023
Organisations should have plans in place, often in association with their insurance or travel company, for forming an incident team to manage the situation until they return. Often, we are used to long-haul flights and can forget to take out insurance and read up on the country and what to do if there is an issue.
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The Best Risk Management Software to Consider for 2021 and Beyond
Solutions Review
SEPTEMBER 9, 2021
Our editors selected the best risk management software based on each solution’s Authority Score; a meta-analysis of real user sentiment through the web’s most trusted business software review sites and our own proprietary five-point inclusion criteria.
Achieving Enterprise Resilience – The Standard For Preparedness Is About To Be Raised Again
everbridge
OCTOBER 7, 2024
Operational Resilience Regulations issued by the UK Financial Conduct Authority and the Prudential Regulatory Authority , effective March 31, 2022, set requirements for financial and investment firms to maintain a level of service to clients in the event of an incident. But is it enough?
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Attitude is the Key
Prism International
JULY 26, 2019
As Earl Nightingale, author of “The Strangest Secret,” said, “You become what you think about all day long.” This industry is about security and insurance, not just shredding. Having a negative attitude makes you a less likeable and approachable salesperson. This is evident whether it’s negative or positive thoughts. It’s like a virus.
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Getting Started with Enterprise Risk Management
MHA Consulting
MARCH 14, 2024
It helps organizations reduce risk, outages, impacts, and costs, such as insurance costs. They also understand how an effective ERM program can be leveraged in discussions with insurers to reduce insurance costs and increase coverage. ERM provides a framework for doing this in a systematic, results-oriented fashion.
School Security & Active Shooter Interdiction: A Q&A With Vince Riden
Security Industry Association
AUGUST 4, 2022
The views and opinions expressed in guest posts and/or profiles/Q&As are those of the authors or sources and do not necessarily reflect the official policy or position of the Security Industry Association. Then there are advocacy, outreach, national campaigns, etc.
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DHS Announces New Grants to Bolster Cybersecurity Under Infrastructure Law
Security Industry Association
SEPTEMBER 20, 2022
Last week the Department of Homeland Security (DHS) announced a joint effort between the Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Emergency Management Agency (FEMA) to provide new cybersecurity grants authorized and funded under the Bipartisan Infrastructure Law.
6 Ways AI is Transforming the Finance Industry
Advancing Analytics
AUGUST 26, 2021
Besides that, the financial industry is a vast sector that includes banks, building societies, e-money institutions, mortgage companies, investment banking, credit unions, insurance and pension companies. Interestingly, the insurance sector has 100% live machine learning applications in use. Fraud Detection.
The Future of Utilities Security
Security Industry Association
OCTOBER 7, 2024
Furthermore, following an incident, utilities may face surging insurance premiums, legal liabilities, reputational damage, and regulatory hurdles, which could entail penalties and the need for corrective measures to prevent future occurrences. Protecting the vast U.S.
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A 6-Point Plan for the “During” of a Data Breach
Pure Storage
OCTOBER 27, 2021
Get in touch with critical partners and authorities. If you’re working with the media, regulators, and legal teams after an attack, it’s helpful to maintain an updated list of contacts within local offices of law enforcement authorities such as the FBI in the United States.
The Best Risk Management Courses on Udemy to Consider for 2021
Solutions Review
SEPTEMBER 14, 2021
This is what I call risk management 1 – risk management for external stakeholders (Board, auditors, regulators, government, credit rating agencies, insurance companies and banks). None of these things have anything to do with proper risk management.
SIA New Member Profile: ColorID
Security Industry Association
SEPTEMBER 4, 2024
Access control systems will no longer serve as the sole automated authority on identification and permissions. Many only recognize its importance when it’s too late, much like the reactionary nature of insurance. Culture: There is a widespread reluctance to invest proactively in security.
Healthcare Under Attack: Building Resilience in the Face of an Aggressive Cyber Threat
MHA Consulting
MARCH 21, 2024
A company called Change Healthcare, which is the largest electronic clearinghouse for medical insurance payments in the country, was struck by hackers who stole patient data and encrypted company files, demanding payment to unlock them. Data breaches generally do not affect day-to-day operations.
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The Digital Operational Resilience Act is Finalized – Now is the Time to Act
Fusion Risk Management
AUGUST 18, 2022
As such , there is an increased focus on financial institutions protecting their critical business services against disruption, so it is a logical next step for the supervisory authorities to place the burden on operational resilience on key third parties that support the financial system. . Defining a Critical ICT. Enforcement of the DORA.
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Guest Opinion: Act Now to Secure Public Space: Commercial Drones Continue to Evolve and We Have No Plan!
Security Industry Association
JANUARY 3, 2023
The simple answer is that we need delegated authorities backed by regulation or law that help to incentivize action. Form an official public/private CUAS task force with decision authority. The dire requirement for a public/private task force is at a critical juncture.
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Below the Headlines: The Real Details of a Cyber Attack
Business Resilience Decoded
DECEMBER 16, 2021
Few are prepared for the stress that occurs when a hacker encrypts their data and their insurance company tells them they won’t pay. He is also the author of “No Safe Harbor: The Inside Truth About Cybercrime and How to Protect Your Business.”
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