February 9, 2015 (Los Angeles). This LA Times article discusses the increase in cyber insurance due to the hack of Health insurer’s Anthem Inc’s computer system – affecting up to 80 million customers, and similar attacks over the last few years. According to the article “Hackers are wreaking havoc on big organizations, but they’re also […]
In this third installment of the Ty Sagalow Insurance Thought Leadership series, Mr. Sagalow is asked about the current status of cyber risk and the cyber risk insurance industry as well predictions to the next versions of cyber risk insurance.
Cybercrime and Cyber Risk are making headlines. Recently, Federal Prosecutors charged a gang of hackers from Russia and the Ukraine with stealing 160 million credit card numbers from more than a dozen companies. Authorities said it’s “the largest hacking scheme in U.S. history.” Some of the same hackers were accused of computer attacks on Citibank, […]
You cannot be a financial institution operating in the 21st Century and not have a cyber risk management plan which includes the purchase of cyber insurance. Overview Of The Risk There were more than 26 million new strains of malware released into circulation in 2011. Such a rate would produce nearly 3,000 new strains of […]
Mr. Sagalow is former chairman of the Internet Security Alliance, a Washington, D.C.,-based trade association which deals with issues of cyber-risk and national security. He has authored a number of works on the subject, including The Financial Management of Cyber-Risk, which consisted of two publications published in conjunction with the American National Standards Institute: The […]