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Facts You Should Know about Cyber Insurance

March 24th, 2014

Cyber

Facts You Should Know about Cyber Insurance

Cyber insurance is to protect losses against cyber threat and losses. Cyber Insurance is not a new concept but many companies don’t have cyber insurance policies still today. The growth for cyber insurance is slow because market is very complex and inconsistent.  Cyber insurance can be costly too which can go around $35,000 for a $1 million in coverage which is still less compared to costs of major breach.

It is important to know about cyber insurance and how can it benefit the organizations.

Cyber insurance is specific

Your general liability and professional indemnity insurance is not cyber insurance. General liabilities frequently cover basics like physical damage and not data breach. A simple virus can cost millions in terms of losses. Most of general liability insurer deliberately neglect the data breach clause.

All are not equal

Cyber insurance is still considered to be relatively nascent stage. It is a decade old concept to save the companies from data breach. A standard cyber insurance policy may not cover exact need of your organization. It is important to access your needs and go your proposed policy to negotiate best suitable terms.

Data loss cover

Cyber insurance policy should go beyond hacking and cover data loss. A minor data loss can cause significance damage to the company.

Example: Massachusetts General Hospital had to pay a $1 million fine to the US Department of Health and Human Services after an employee of Partners HealthCare left the records of 192 patients on a train.

Cyber insurance vs. good security

Cyber insurance is not the license to neglect security constraint of data. You have to perform assessment and audits to check the policies to secure the data.

“Being able to prove that they weren’t negligent could save organizations millions in the long-run,” explains Jamie Bouloux, a cyber insurance liability executive at AIG. “If something happens when a client loses data, they can tell the regulator that they did everything within reason to try to ensure that there was an environment of security where its employees knew how to handle client information.”

Alertsec strengthens security

Alertsec has created a web based encryption service that radically simplifies deployment and management of PC encryption by using industry leading Check Point Full Disk Encryption (former Pointsec) software.

Organizations, especially corporate giants, have to have an information security policy in place that proves they have taken necessary steps and measures to safeguard the information they gathered. If these policies are not adhered to, the regulators may prosecute.

Alertsec Xpress is used by organizations that have recognized the need to protect their information. Customers range from single-user sole traders and consultants to multinational companies with a large number of offices around the globe. Over 4 million users worldwide use Alertsec Xpress’s Check Point Full Disk Encryption.

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IT companies: Ways to tackle Cloud File Sharing Threat

March 20th, 2014

Cloud computing comes to NERSC

IT companies: Ways to tackle Cloud File Sharing Threat

Many cloud file sharing companies are now slowly but steadily wiping out the traditional IT companies methods. More and more IT infrastructure and apps are moving to cloud. Trend for employees using devices like Smartphone, tab to access corporate data (BYOD) is increasing.

Current situation is also leading to increase in security threats for corporate data. Environment is such where IT departments are losing their relevance and control over data.

Adaption of the Technology

IT professionals have adapted to the phases of technological breakthroughs. It is fact that more and more IT infrastructure is moving to the cloud and best way to adapt cloud technology is to put policies and audit strategies in place to avoid data breach. Control objectives should be created for cloud usage and implementation.

Encryption

One of the efficient ways to protect data is by creating encryption. Basically with encryption one need not to worry for the data whether it is moved or stored. Relying on the encryption has its own challenges like visibility of the data for day to day usage. Also trying to encrypt and decrypt work all the time is not feasible. Policy should be in place for the strategic encryption of the data.

Access to right Cloud service provider

Organizations today understand the need and importance of moving operations to cloud but many hesitate due to security threat involved in it. When choosing a cloud vendor it is important to ensure that compliance guidelines are in line with the organizations regulations and standards.

Alertsec strengthens security

Alertsec has created a web based encryption service that radically simplifies deployment and management of PC encryption by using industry leading Check Point Full Disk Encryption (former Pointsec) software.

Organizations, especially corporate giants, have to have an information security policy in place that proves they have taken necessary steps and measures to safeguard the information they gathered. If these policies are not adhered to, the regulators may prosecute.

Alertsec Xpress is used by organizations that have recognized the need to protect their information. Customers range from single-user sole traders and consultants to multinational companies with a large number of offices around the globe. Over 4 million users worldwide use Alertsec Xpress’s Check Point Full Disk Encryption.

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Recent Update for United Healthcare fax breach

March 14th, 2014
BGFJ0R (CYBER ATTACK) ...item 2.. Watching the...

Recent Update for United Healthcare fax breach

Patient info was sent to the wrong recipient, Stephen Butler’s. A Portland, Oregon man received erroneous faxes containing protected health information (PHI) from Community Memorial Hospital patients. Fax was intended to be sent to United Healthcare, as Insurance Company but went to Butler instead.

Fax contained four patients birth dates, insurance identification numbers, and admission dates. Roper, the hospital believes that this was the only fax sent to wrong recipient. But hospital was unaware about the incident until it was contacted by the news agency. It is believed that error was mostly likely due to dialing of wrong number. United Healthcare has carried out his own investigations.

Roper St. Francis, the healthcare network released the statement,

Roper St. Francis is committed to protecting the privacy of patients. This week, Roper St. Francis leaders learned that on August 1, 2013, one fax intended for an insurance company was inadvertently sent to a wrong number. The information in the fax contained the names of four patients, their dates of birth, dates of admission, and insurance member ID numbers. Roper St. Francis leaders have personally apologized to the patients involved. The mission at Roper St. Francis is to heal all patients with compassion, faith and excellence, and this includes protecting their private information as well.

Organizations, especially corporate giants, have to have an information security policy in place that proves they have taken necessary steps and measures to safeguard the information they gathered. If these policies are not adhered to, the regulators may prosecute.

Get your personal as well as office laptops encrypted by Alertsec

Unencrypted laptops present a major risk of data loss. 80% of information theft is due to lost or stolen laptops and other equipment. About 50% of network intrusions are performed with credentials gathered from lost or stolen devices. The penalties for a data breach are severe not only in terms of the monetary fines imposed on the organization, but also the potential loss of trust from customers and suppliers. Encryption software greatly enhances the security of your organization’s data as the information is not compromised if a laptop is lost or stolen.

Alertsec Xpress is the full disk encryption service that delivers a mobile data protection system for all information stored on laptops used throughout your organization.

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Data Breach in MaryLand DDA affects 9,700 clients

March 10th, 2014
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Data Breach in MaryLand DDA affects 9,700 clients

Case management provider Service Coordination Inc.’s (SCI) computer systems of The Maryland Developmental Disabilities Administration (DDA) was hacked which compromised 9,700 patients’ protected health information (PHI). It contained client names, demographic information, DDA service provider, medical assistance number, Medicaid and Medicaid Waiver status and reason, Social Security numbers, and other SCI service information.

“We regret the occurrence of this unfortunate criminal incident and we apologize for any inconvenience this may have caused individuals who we work with. We continue our vigilant actions to safeguard the information of those who count on us for resource coordination services and we remain committed to supporting their needs,” said John Dumas, Executive Director of Service Coordination

SCI contacted a cybersecurity forensics team which confirmed unauthorized use. SCI also notified the FBI and U.S. Department of Justice (DOJ). It requested a delay in clients’ notification to avoid hindrances in their criminal investigations. Only after law enforcement seized the hackers account and equipment, SCI began notifying the clients.

SCI is offering one year free identity theft protection to those affected by the breach. In a website statement, SCI further added,

There is no current evidence of any misuse or further release of information by the hacker or others. To help protect affected Maryland residents from the possibility of identity theft and/or fraud as a result of this incident, SCI has engaged an identity theft protection firm, to provide affected individuals with a full year of identity theft protection services at SCI’s expense.

Alertsec strengthens security

Alertsec Xpress is used by organizations that have recognized the need to protect their information. Customers range from single-user sole traders and consultants to multinational companies with a large number of offices around the globe. Over 4 million users worldwide use Alertsec Xpress’s Check Point Full Disk Encryption.

Alertsec has created a web based encryption service that radically simplifies deployment and management of PC encryption by using industry leading Check Point Full Disk Encryption (former Pointsec) software.

Organizations, especially corporate giants, have to have an information security policy in place that proves they have taken necessary steps and measures to safeguard the information they gathered. If these policies are not adhered to, the regulators may prosecute.

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Office break leads to patient information breach

March 4th, 2014
Password 'fido' ...item 3b.. Five Characters i...

Office break leads to patient information breach

The protected health information (PHI) of patients at Dr. J.M. Benson’s Sherman, Texas practice was stolen in the event of office break in which may lead to data breach. Computers and at least one hard drive were stolen from the office.

Devices contained information of patients which includes names, addresses, phone numbers, health insurance provider numbers, and Social Security numbers. Status of information whether it was encrypted or not was unavailable.

Office issued written statement and advised to check their health reports and credit reports for any illegal activity. It mentioned, “We suspect that it might be possible for the persons who stole the equipment to attempt to use the information contained therein for the purposes of committing health insurance fraud.” Office is in the process of upgrading security checks. They also said, “Sincerely apologize and regret that this situation occurred.”

Dr. Benson immediately reported the incident to the police and investigation is in the process. He further added in statement issued to the affected patients, “In addition, you should monitor your health care reports, such as your insurance Explanation of Benefit (EOB) documents, to ensure that charges included on the EOB’s are for services that are actually provided to you,”

It is possible for the person who stole the records can use the patient’s personal information for committing health insurance fraud.

The penalties for a data breach are severe not only in terms of the monetary fines imposed on the organization, but also the potential loss of trust from customers and suppliers. Encryption software greatly enhances the security of your organization’s data as the information is not compromised if a laptop is lost or stolen.

Alertsec strengthens security

Alertsec Xpress is used by organizations that have recognized the need to protect their information. Customers range from single-user sole traders and consultants to multinational companies with a large number of offices around the globe. Over 4 million users worldwide use Alertsec Xpress’s Check Point Full Disk Encryption.

Alertsec has created a web based encryption service that radically simplifies deployment and management of PC encryption by using industry leading Check Point Full Disk Encryption (former Pointsec) software.

Organizations, especially corporate giants, have to have an information security policy in place that proves they have taken necessary steps and measures to safeguard the information they gathered. If these policies are not adhered to, the regulators may prosecute.

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