April 11, 2014

Heartbleed Hits

The Heartbleed bug is the latest cyber security threat and we already know a number of affected websites and companies. Make sure to take action to protect your account settings. Take a look at this article from to find out more about Heartbleed and to know which passwords you should change for websites that have been compromised. Continue reading “Heartbleed Hits” »

May 20, 2013

Cyber Liability Industry Review- Retailers

Typically, this industry segment does not pay enough attention to its cyber liability risk. Big retailers are beginning to see the impact i.e. DSW and TJ MAX, but few small businesses are really paying attention to their exposure to cyber liability.

The main reason retailers are not addressing this problem, well, simply because most do not believe they will have a problem. The common response “I am not an online company, hence no need to worry about customer information being stolen or my network being attacked.”

Fact: Though a majority of your operations may not be on-line, there are still several ways someone can either corrupt your network or steal customer information and cause major cyber liability damages. Two common claim scenarios:

A. If you have an in house computer system, a virus or malicious code can still either wipe-out your data or quickly spread infected applications to third parties and cause severe network damages. (Network damages to third parties can be covered by network security liability coverage within a cyber liability policy)

B. If you are using PCI devices (Payment Credit Card Devices) you should make sure proper PCI procedures are in place, and know that even the most capable trust-worthy employees can still make mistakes with regards to handling sensitive credit card and personal information. (Customer damages from unauthorized access to personal information can be covered by the privacy liability portion within a cyber liability policy.)

Although many small businesses feel that hackers would not target them, in reality small businesses are seen as easy prey.

May 8, 2013

Cyber Liability Insurance- What to look for

What should you look for when purchasing a cyber liability policy? Lets start with the basics….

Privacy Liability AND Network Security Liability are the fundamental coverage components of the Cyber Liability policy. They address different types of damages. Unfortunately, many companies are only providing limited coverage with few very few options, so it’s important to have an idea of what to look for.


What they do:


Privacy Liability- Sometimes referred to as privacy injury, information liability, or disclosure injury coverage, provides coverage against the unauthorized access to confidential information. When important information falls into the wrong hands and customers or third-parties subsequently experience damages from the wrongful use of this information, privacy liability will cover the resulting claims.


Network Security Liability- Coverage for a security breach to your network which results in damages to customers or third-party networks. A hacker infiltrating a system and spreading malicious content or disrupting/destroying networks and data will trigger coverage from network security liability.


Understand these cyber liability elements and the occurrences they cover to make an informed decision when designing the appropriate cyber liability policy for your business.

March 28, 2013

6 Reasons You Should Have Cyber Liability Insurance

“Insurance that protects you in case of a cyber attack may seem like something only large corporations would ever need, or could ever afford. But believe it or not, cyber liability insurance makes lots of sense for small companies as well. Here’s why:”

-From the article titled, ’6 Reasons Why You Should Have Cyber Liability Insurance’ By Minda Zetlin featured on Continue reading “6 Reasons You Should Have Cyber Liability Insurance” »

March 27, 2013

Cyber-Attacks: Banks are Big Targets

“In itself, a distributed denial of service, or DDoS, attack on a bank’s website is little more than costly hooliganism. It essentially consists of hackers ordering a bunch of malware-infected computers to “click” on a bank’s website until it’s too overwhelmed to respond to legitimate users.

The effect is pretty similar to a barricade across the entrance to your bank: You can’t get in, but your money is still safe inside the bank.”

-The article ‘Hackers Empty $900K Bank Account’  from Banking Blog by Claes Bell Continue reading “Cyber-Attacks: Banks are Big Targets” »

March 21, 2013

Smartphone Hacking Hits US Victims

“Criminals have been probing the systems that protect U.S. smartphone users for years, searching for the right combination of programming tricks and social engineering that would allow them to sneak onto users’ phones. Recently, one hacker group hit the jackpot.”-Bob Sullivan, NBC News Continue reading “Smartphone Hacking Hits US Victims” »

February 19, 2013

US Corporations Hacked…Again!

Another report releasing details of a major cyber attack to U.S. corporations. Think about the extensive use of risk controls and network security applications to prevent these attacks. And now think about the high volume of cyber attacks bypassing these tactics. If a cyber attack can happen to a company like The New York Times, you better believe that small-mid size businesses are extremely vulnerable as well.  Continue reading “US Corporations Hacked…Again!” »

February 1, 2013

2012 Cyber Claims Survey

Betterley Risk Consultants’ in their 2012 Cyber/Privacy Insurance Market Survey reported that the average cost for crisis services (forensics, notification, call center, credit monitoring & legal counsel) was $983,000 per event!!! People tend to focus on the 3rd party liability portion of cyber insurance, however, most claims will involve costly crisis management expenses. Make sure to review BOTH 3rd party and 1st party coverage!

January 25, 2013

U.S. homeland chief: cyber 9/11 could happen “imminently”

“Attacks are coming all the time. They are coming from different sources, they take different forms. But they are increasing in seriousness and sophistication.” – Homeland Security Secretary Janet Napolitano from the article ‘U.S. homeland chief: cyber 9/11 could happen “imminently”" reported by Deborah Charles, edited by Xavier Briand. Continue reading “U.S. homeland chief: cyber 9/11 could happen “imminently”” »

January 24, 2013

Webcam hackers can spy on you in secret

“Computer expert Jim Stickley of TraceSecurity showed us how easy it is. From thousands of miles away he broke into one family’s laptop and turned on their webcam to view teen girls in their bedroom and in their dining room as the family ate dinner. “It took about three minutes” to hack into their system, Stickley told us.” – From the article in Today News titled ‘Rossen Reports: Webcam hackers can spy on you in secret’ by Jeff Rossen, Josh Davis and Robert Powell.

Frightening to see experts demonstrate how easy it is to infiltrate a computer system. The article highlights the danger of hackers targeting families and individuals, but imagine a breach to a corporate network. How often does your business use webcams for conference calls? Trade secrets and confidential client information are at stake.  Continue reading “Webcam hackers can spy on you in secret” »