Commentary: Cyberinsurance helps proactively manage ransomware risk

Tech firms target IoT security | Commentary: Cyberinsurance helps proactively manage ransomware risk | Mass. senator raises concerns about cyberattacks on connected cars Created for {EMAIL} | [Web Version] June 30, 2016 [Â] [Data Security & Privacy SmartBrief] [SIGN UP] ⋅ [FORWARD] ⋅ [ARCHIVE] Top Story [Tech firms target IoT security] [Tech firms target IoT security] (Pixabay) The majority of internet of things devices lack sufficient security, with 80% not requiring strong enough passwords, 70% not protected by encryption and 60% having vulnerabilities in their user interfaces, a Hewlett Packard Enterprise study revealed. Insufficient security around IoT has prompted long-standing tech firms as well as a number of new startups to try and fix the problems. [TechCrunch] (6/26) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] Data Security & Privacy [Commentary: Cyberinsurance helps proactively manage ransomware risk] Carriers are stepping up their cyberinsurance offerings as ransomware attacks, data breaches and other cyberincidents rise, write lawyers Thomas Caswell and Rory Zamansky. Insurers also should "consider requiring their insureds to have proper backup systems and cybersecurity training for all employees before they issue insurance policies covering cyberextortion." [ClaimsJournal.com] (6/27) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] Cyber Risk [Mass. senator raises concerns about cyberattacks on connected cars] [Sen. Ed Markey] Markey (Mark Wilson/Getty Images) Sen. Ed Markey, D-Mass., expressed concerns about cyberattacks on cars connected to the internet during a recent Senate subcommittee hearing and wants to see greater protection incorporated into their design. "The internet of things also leads to the internet of threats," he said. [The Hill] (6/28) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] - [Report: Medical devices targeted with camouflaged old malware] Dark Reading (6/28) By the Numbers [Survey: Nearly 1 in 4 consumers has been hacked] Twenty-three percent of consumers say their financial data have been breached at least once in the past two years, according to an Accenture survey. However, most customers are still willing to share data if it means better service. [HousingWire] (6/29) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] [Consumer compensation for data breaches a rising threat] [Data breaches spur more consumers to pursue injury lawsuits] (Scott Olson/Getty Images) Courts are contending with lawsuits from consumers whose personal information might have been compromised by data breaches. While courts have ruled that such breaches don't constitute consumer injury, the trend is worrisome for companies that face large legal bills, even if a case doesn't go to court. [The Wall Street Journal (tiered subscription model)] (6/26) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] Practice & Policy [Banks change hiring tactics to draw cybersecurity talent] Banks need skilled cybersecurity workers and face an uphill battle in attracting candidates to a traditionally staid industry. To attract candidates, banks are creating buzz about the high-risk nature of banking and are reaching out to women, military veterans and others. [AmericanBanker.com (free content)] (6/27) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] - [HR's role in preventing data breaches] CSO (6/27) AllClear ID News Is your team ready for a data breach? As data breaches increase in scale and frequency, businesses must prepare today to ensure an effective, customer-focused response. Consumers, regulators and the media want a well-orchestrated response launched just days after a data breach, and preparation in advance is critical to success. [Download this Incident Response Workbook] and learn: - Key considerations for data breach preparation and customer notification - Best practices for the customer-facing aspects of data breach response - Recommendations for planning and executing a well-orchestrated response [LinkedIn] [Twitter] [Facebook] [Google+] [Email] 4 steps to respond more effectively after a data breach The most thorough preparation pre-breach won't matter if your response team is derailed by emotions like denial, tunnel-vision and anger. [Download this whitepaper], Factoring the Human Element Into Your Data Breach Response, to learn which emotions are most likely to derail your team and steps you can take now to be ready to address them during a crisis. [LinkedIn] [Twitter] [Facebook] [Google+] [Email] Learn more about AllClear ID: [About AllClear ID] | [AllClear ID Breach Response] [AllClear ID Resources] Instruction does much, but encouragement everything. Johann Wolfgang von Goethe, writer and statesman [LinkedIn] [Twitter] [Facebook] [Google+] [Email] [Sign Up] [SmartBrief offers 200+ newsletters] Subscriber Tools: [Manage Subscriptions] [Update Your Profile] [Unsubscribe] [Send Feedback] [Archive] [Search] Contact Us: Editor - [Amanda Gutshall] Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004 © 1999-2016 SmartBrief, Inc.® [Privacy policy] | [Legal Information] Â