New NYDFS Cybersecurity MFA Requirement Effective Nov. 1
Although the NYDFS Cyber Regulations may not apply directly to your business, independent insurance agencies operating in other jurisdictions could still see impacts.
Technology and Tools
4 Things You Should Do If Your Carrier Has Been Hacked
Cyberattacks against carriers, such as the ones earlier this month against Erie Insurance and Philadelphia Insurance Companies, can pose serious errors & omissions risk for your agency.
U.S. Business Leaders’ Cyber Confidence Declines, Says Beazley Report
As the cyber threat landscape becomes more complex, preparedness against cyber risks is declining with only 73% of U.S. business leaders feeling resilient against the cyber risk.
Over Half of Cyber Claims Originate in Email Inboxes
More than half of all 2023 cyber insurance claims were a result of funds transfer fraud (FTF) or business email compromise (BEC), according to a Coalition report.
Average Cost of a Data Breach Reaches All-Time High, says IBM Report
The global average breach cost reached $4.45 million, with detection and escalation the most expensive component—indicating a shift toward more extended and complex investigations.
