A U.S. appeals court on Monday said the Federal Trade Commission has the authority to regulate cyber security and may pursue a lawsuit accusing hotel operator Wyndham Worldwide Corp. of failing to safeguard consumers’ personal information. Continue reading
Having one person handle all aspects of accounting puts a business in a VERY vulnerable position. There is no one there really checking that everything is accurate and watching the money so to speak. This leaves a lot of room for employee dishonesty. There are some basic controls that can be put in place to help eliminate such losses. The easiest may be an annual outside audit, to help lower the risk of fraud. Small business owners often feel close to their employees and put a lot of trust in them leaving little room for acknowledging dishonesty. Continue reading
The Federal Energy Regulatory Commission is proposing rules intended to improve the nationwide electric system’s cyber security.
FERC said in a statement last week that it is seeking comment on seven updated critical infrastructure protection reliability standards proposed by the North American Electric Reliability Corp., an Atlanta-based industry group. Continue reading
Data breaches at the U.S. government’s personnel management agency by hackers, with suspicions centering on China, involve millions more people than previously estimated, U.S. officials said on Thursday. Continue reading
“You would think the first question to ask would be: Do insured parties understand the elements and limitations of coverage?” said Kevin Kalinich, speaking on cyber risk. “The real first question is: Do the insurance companies understand?”
Kalinich, global practice leader for cyber/network risk, at consulting firm Aon Risk Services, was a panelist at the Standard & Poor’s Ratings Services 2015 Insurance Conference this week in New York where experts stressed the importance of underwriters working together to gain a better understanding of the market so they can properly assess and price cyber risk. Continue reading
Safety professionals are increasing their focus on statistics and metrics relevant to business executives such as total cost of risk, a new study from Aon Global Risk Consulting, a unit of Aon P.L.C. finds. Continue reading
A court ruling in favor of an insurer in one case and coverage litigation in another — both involving cyber insurance policies — may mark the beginning of a new stage in the coverage as a growing number of firms obtain these policies. Continue reading
The private sector should become more actively involved in addressing the inadequate global cyber governance framework, Zurich Insurance Group Ltd. said in a report issued Monday. Continue reading
