Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Comments
Cyber Insurance: Read the Fine Print!
Newest First  |  Oldest First  |  Threaded View
mcavanaugh1
mcavanaugh1,
User Rank: Moderator
6/20/2017 | 1:12:18 PM
Cyber Insurance
While I understand the intent of the article, the majority of the information is only part of the picture. First, many of these suits and declinations of coverage were filed under insurance policies that were never intended to cover these exposures specifically Crime & Commercial General Liability insurance policies.  The expectation that a CGL policy designed to cover bodily injury and property damage should also cover these types of exposures is ridiculous. It would be similar to filing a claim for an auto accident under your homeowner's insurance policy.  

Second, the examples of social engineering, phishing and the lack of coverage should fall more on the insurance agent or broker that placed the coverage. While this coverage may not have been available in January of 2016 (Krebs Article), September of 2015 (BitPay), June of 2016 (PF Changs), and August of 2013 (Schnucks) they are currently available in the marketplace and have been for quite some time.  This coverage is readily available from several insurance companies on a cyber liability insurance policy for most industries although the insurance agent may have to request the coverage to specifically be added. The truth is that a correctly written cyber liability insurance policy can respond to everything that was mentioned in the 10 bullet points outlined in the article.  Also, many carriers are writing comprehensive policies that will cover everything with a minimum premium of $1,000 (less for some industries) with a deductible of $1,000 to start.  This can include the cyber-crime coverage needed in two of the examples (Krebs & BitPay) linked to in the article.  

I definitely agree that a company contemplating purchasing a policy should read the fine print; however, the first step should be finding an insurance agent or broker that understands the coverage. A cyber liability insurance policy should complement the risk management measures in place with the mindset of viewing the policy as a service. Many carriers will provide risk management services to a policyholder before and after an event with the goal of making their policyholder more secure.


Edge-DRsplash-10-edge-articles
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
News
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
Commentary
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
The 10 Most Impactful Types of Vulnerabilities for Enterprises Today
Managing system vulnerabilities is one of the old est - and most frustrating - security challenges that enterprise defenders face. Every software application and hardware device ships with intrinsic flaws - flaws that, if critical enough, attackers can exploit from anywhere in the world. It's crucial that defenders take stock of what areas of the tech stack have the most emerging, and critical, vulnerabilities they must manage. It's not just zero day vulnerabilities. Consider that CISA's Known Exploited Vulnerabilities (KEV) catalog lists vulnerabilitlies in widely used applications that are "actively exploited," and most of them are flaws that were discovered several years ago and have been fixed. There are also emerging vulnerabilities in 5G networks, cloud infrastructure, Edge applications, and firmwares to consider.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2023-1172
PUBLISHED: 2023-03-17
The Bookly plugin for WordPress is vulnerable to Stored Cross-Site Scripting via the full name value in versions up to, and including, 21.5 due to insufficient input sanitization and output escaping. This makes it possible for unauthenticated attackers to inject arbitrary web scripts in pages that w...
CVE-2023-1469
PUBLISHED: 2023-03-17
The WP Express Checkout plugin for WordPress is vulnerable to Stored Cross-Site Scripting via the ‘pec_coupon[code]’ parameter in versions up to, and including, 2.2.8 due to insufficient input sanitization and output escaping. This makes it possible for authenti...
CVE-2023-1466
PUBLISHED: 2023-03-17
A vulnerability was found in SourceCodester Student Study Center Desk Management System 1.0. It has been rated as critical. This issue affects the function view_student of the file admin/?page=students/view_student. The manipulation of the argument id with the input 3' AND (SELECT 2100 FROM (SELECT(...
CVE-2023-1467
PUBLISHED: 2023-03-17
A vulnerability classified as critical has been found in SourceCodester Student Study Center Desk Management System 1.0. Affected is an unknown function of the file Master.php?f=delete_img of the component POST Parameter Handler. The manipulation of the argument path with the input C%3A%2Ffoo.txt le...
CVE-2023-1468
PUBLISHED: 2023-03-17
A vulnerability classified as critical was found in SourceCodester Student Study Center Desk Management System 1.0. Affected by this vulnerability is an unknown functionality of the file admin/?page=reports&date_from=2023-02-17&date_to=2023-03-17 of the component Report Handler. The manipula...