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
100%
0%
mcavanaugh1,
User Rank: Strategist
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.


I 'Hacked' My Accounts Using My Mobile Number: Here's What I Learned
Nicole Sette, Director in the Cyber Risk practice of Kroll, a division of Duff & Phelps,  11/19/2019
DevSecOps: The Answer to the Cloud Security Skills Gap
Lamont Orange, Chief Information Security Officer at Netskope,  11/15/2019
Attackers' Costs Increasing as Businesses Focus on Security
Robert Lemos, Contributing Writer,  11/15/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Navigating the Deluge of Security Data
In this Tech Digest, Dark Reading shares the experiences of some top security practitioners as they navigate volumes of security data. We examine some examples of how enterprises can cull this data to find the clues they need.
Flash Poll
Rethinking Enterprise Data Defense
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industrys conventional wisdom. Heres a look at what theyre thinking about.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2012-1001
PUBLISHED: 2019-11-21
Multiple cross-site scripting (XSS) vulnerabilities in Chyrp before 2.1.2 and before 2.5 Beta 2 allow remote attackers to inject arbitrary web script or HTML via the (1) content parameter to includes/ajax.php or (2) body parameter to includes/error.php.
CVE-2014-8356
PUBLISHED: 2019-11-21
The web administrative portal in Zhone zNID 2426A before S3.0.501 allows remote authenticated users to bypass intended access restrictions via a modified server response, related to an insecure direct object reference.
CVE-2015-3140
PUBLISHED: 2019-11-21
Multiple cross-site request forgery (CSRF) vulnerabilities in Synametrics Technologies SynaMan before 3.5 Build 1451, Syncrify before 3.7 Build 856, and SynTail before 1.5 Build 567
CVE-2019-19207
PUBLISHED: 2019-11-21
rConfig 3.9.2 allows devices.php?searchColumn= SQL injection.
CVE-2019-19203
PUBLISHED: 2019-11-21
An issue was discovered in Oniguruma 6.x before 6.9.4_rc2. In the function gb18030_mbc_enc_len in file gb18030.c, a UChar pointer is dereferenced without checking if it passed the end of the matched string. This leads to a heap-based buffer over-read.