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L Squared Insurance Agency Blog: data breach

View the latest blog posts from L Squared Insurance Agency.

Wednesday, August 23, 2017

Cyber Liability—With all of the attention on Cyber Security It is not Working

An article from the Insurance Journal, 5 Reasons Cyber Security is Failing and What P/C Insurers Can Do About it, states 5 reasons why it is not working: 1. Common misconceptions. Most people understandably think of cyber security as an IT problem. READ MORE >>

Tuesday, August 22, 2017

Cyber Liability—What you may not know about using public WIFI

Many people because of poor data connections or because they want to save data on their data plan are always looking for public WIFI to hook into. Most people that use public WIFI are aware that they should never conduct confidential work over a public WIFI connection as you never know who is watching. READ MORE >>

Tuesday, August 8, 2017

Cyber Liability—What is a computer crime?

Some people may be surprised how the courts interrupt what is a computer crime. In a recent case American Tooling Center Inc (ATC) v Travelers Casualty Insurance (Travelers) in US District court the Judge ruled that even though the manufacturer lost over $800,000 via the use of fraudulent e-mails the Travelers Cyber policy did not provide coverage for this exposure. READ MORE >>

Monday, July 31, 2017

Cyber Liability—4 Cyber Attacks to Watch For

All of us have heard or seen reminders of cyber-attacks. Most cyber-attacks start by literally having an employee open the door for the cybercriminal. With the increasing frequency of cyber-attacks the 1st defense needs to be education. Having your employees and staff trained to recognize the threats this is that 1st step. READ MORE >>

Tuesday, July 18, 2017

Cyber Liability—Businesses need to be aware of the long term costs of a Cyber Attack

As recently as today, Fedex was stating that many of its overseas deliveries are still being impacted by last month's cyber-attacks. According to a Lloyd’s Report (Closing the Gap) the long term impacts of a cyber-attack on a business are being underestimated. Key Findings of this report were: READ MORE >>

Thursday, July 13, 2017

Cyber Liability--What You Should Know

Professional Solutions Insurance Company has created an overview on cyber attacks. To see this document click below. Protect yourself: Trust Accounts and Email Scams READ MORE >>

Wednesday, June 28, 2017

Cyber Liability--DLA Piper Hit by Ransomware Attack

Even large sophisticated law firms such as DLA Piper are not immune to Cyber attacks. According to the ABA Journal DLA Piper was struck by a ransomware attack on Tuesday. It is impacting offices in the US, Europe and the Middle East. It appears that this attack started in Spain and spread to the rest of the law firm. READ MORE >>

Friday, June 23, 2017

Cyber Liability—Telephone Debit Card Transactions of $11.4M not covered by Computer Fraud Provision

Cyber Insurance is a fairly new product with no standardization between insurance carriers, much of the cyber policy language has yet to be subjected to a ‘real world’ review in the courts. Not all cyber policies are created equal and great care needs to be taken to make sure that the coverages selected and the language in the policy meet the insured’s needs. READ MORE >>

Wednesday, June 21, 2017

Cyber Liability--Apple Mac Computers targeted by ransomware and spyware

According to a BBC Report Apple Mac Computers are now being targeted by ransomware and spyware. To read this articleClick Apple Mac Ransomware READ MORE >>

Monday, June 12, 2017

Cyber Insurance—Know what you are buying or How to save your Firm from Financial Ruin

With cyber-attacks frequency increasing, we continue to blog about the need for Cyber Insurance/Data Breach Coverage. But just what policy should you buy? Unfortunately there is no right answer to that question. With Cyber Insurance being very new there is no policy or coverage standardization. READ MORE >>

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