Tag: Cybersecurity

NY DFS Issues Cybersecurity Guidance for Third-Party Service Providers in Insurance

The NY Department of Financial Services issues updated cybersecurity guidance for insurance firms managing risks from third-party providers, emphasizing AI and contract controls under Part 500.

Global Term Insurance Market to Reach $1.2 Trillion by 2032, Driven by Digital Transformation

Explore the projected growth of the global term insurance market to $1.2 trillion by 2032, driven by digital innovation, emerging economies, and evolving consumer preferences. Key insights on product types, regional growth, and top insurers included.

Maine Insurers Expand Services, Address Climate and Cyber Risks Amid Market Shifts

Maine insurers are expanding geographically and technologically while addressing rising climate and cyber risks. Major players focus on workforce training and innovative coverage solutions amid increasing claims costs.

$17.5M Settlement for Infosys McCamish Systems Data Breach Impacts 3.7M

Infosys McCamish Systems settles $17.5M data breach affecting 3.7 million Americans, offering up to $6,000 in claims for compromised insurance data.

K–12 Cybersecurity Transforms with AI to Build Resilient School Systems

Explore how U.S. K-12 schools are evolving cybersecurity with AI, data governance, and collaboration to build resilient systems and reduce cyber insurance costs.

Modernization Strategies for Mutual Property and Casualty Insurers

Explore effective modernization strategies for mutual property and casualty insurers focusing on technology, AI, security, and member-centric outcomes to stay competitive.

2025 Marks Major Transformation in U.S. Insurance Technology Trends

In 2025, U.S. insurance technology enters a transformative phase driven by AI, IoT, parametric policies, and embedded insurance models, reshaping underwriting, claims, and customer engagement.

Increasing Cybersecurity Challenges for Financial Services: Vendor Breaches, Mobile Malware, and VPN Vulnerabilities

Financial sector faces escalating cyber risks from vendor breaches, advanced mobile malware, and critical VPN vulnerabilities, underscoring need for enhanced supply chain oversight and Zero Trust security.

2025 Insurance Industry Growth Supported by Economic and Technological Trends

Conning analysts forecast sustained growth in life/annuity and property/casualty insurance in 2025, driven by economic conditions, regulatory focus, AI adoption, and rising catastrophe and cyber risks.

Allianz Life Reports Major Social Engineering Data Breach Impacting 1.4M Customers

Allianz Life Insurance Company announces a major social engineering data breach affecting 1.4 million U.S. customers, part of a growing trend of cyberattacks on insurers by groups like Scattered Spider.