Posted on 7/18/2016 5:00 AM By Keith Savino
I find it fascinating …
I have been immersed in the insurance industry for close to 30 years now. I serve on industry boards, I speak at conferences and my clients consist of businessmen from Fortune 500 companies to the Mom and Pop shop down from our Corporate Headquarters. I have sat with entrepreneurs that are just beginning in the world of small business, to executives who have 40 years in their chosen industry. They often inquire as to my opinion on insurance for their company and I am happy to give them advice and recommendations.
But it is simply fascinating to me that often when I mention Cyber-Security Insurance, businessmen that I am speaking to, often look at me with confusion, unsureness and complete doubt. It seems to me, that many business people, I talk to, are under the false impression that:
*We are too large to have any security issues – Our company has invested into the most sophisticated firewalls and blocking mechanisms currently available for our information system ...
Posted on 7/13/2015 8:00 AM By Keith Savino
The NYSE halted trading last week due to a “technical issue”. Almost every headline and ticker running on CNN, CNBC, or The New York Times immediately blasted the message: “Officials Deny Cyber-Attack.” The Wall Street Journal and United Airlines followed up that day with their own computer issues. It’s become the first “go to” thought in everyone’s mind every time a snafu, a glitch or a complication occurs, Data Breach, Cyber Attack, and Security Compromise. All data and computer infrastructure has become vulnerable.
Posted on 5/4/2015 8:00 AM By Keith Savino
Of the many questions I receive when I travel for business or meet with customers, the following is the topic most clients wish to discuss. … “Are data breaches and cyber-security really an issue?” I have heard people remark that cyber-liability is simply another overblown news story, such as Y2K. I have heard it referred to as a “Chicken Little,” where insurance agencies and carriers are simply running around screaming that the cyber world is falling down.
I sometimes wish this were the case. I would feel much more secure and rest easier knowing that most customers private data and personal information was under lock and key and can never been accessed by the outside world. But every single day, another retailer, healthcare provider, bank, corporation and company report a comprised customer data system. And many do not report breaches at all, nor do many, even know, that their data has been breached.
Target, Sony, Ebay, Adobe, Living Social, Ubisof ...
Posted on 3/2/2015 7:06 AM By Keith Savino
One of the exciting aspects of going on vacation is the thrill and joy of sharing it with other people. Riding a Cable Car in San Francisco, standing at the top of the Empire State Building, climbing through the Grand Canyon … who doesn’t want to post “their excitement” immediately to Facebook, Twitter, Pinterest, Tumblr and Instagram? But Computer Security Experts warn against, what seems to most people, to be such a harmless practice.
1. “Enjoying a Yummy Lobster Tail at the Shell Shake in Maine. Wish you were here!” – This simple status update on Facebook immediately signals to crooks that you are away from home, and targets your house for possible looting. If a Facebook Friend “likes” your status it is possible that that information will be shared on someone’s Newsfeed, enabling them to see your home is unguarded.
2. “The skies the limit! Nancy Smith and Jennifer Jones Para-sail ...
Posted on 2/3/2015 2:43 PM By Keith Savino
Privacy is not for the passive. — Jeffrey Rosen.
If you Google the term “Cyber Liability” you will receive 1,060,000 results in less than a second. Millions of websites, news, videos and even political cartoons and comics, show businessman swimming in a sea of terminology and double-talk.
It is not just the “everyman” that is searching for clarity. From corporate C.E.O.’s to Main Street Business owners all are digesting misinformation and seeking someone who helps them … simply understand. And then provide the answers.
We are here for you …
What is Cyber Liability Insurance? This type of policy deals with risks associated with the capturing and keeping of customer information. (Specifically e-business and commerce, the Internet, networks, informational assets.)
What does Cyber Liability Insurance do? It covers and protects you against vulnerability and exposures arising out of Internet and Point ...
Posted on 8/21/2014 9:48 AM By Keith Savino
Sometimes it is good to quickly talk about a topic. So here are a few short and sweet thoughts to get your mental juices flowing.
How many people think that Cyber liability is just about something Cyber.. like computers. ? Cyber Liability is probably not the best way to "Title" the type of coverages that could be available. For example your "Data" could be paper files. Not what you though about cyber right ?
Critical infrastructure, Personal Info, your Reputation, Regulatory responsibilities (state and federal rules) are all considerations when trying to understand what you are trying to protect, or have some money for claims, defense costs and regulatory fines, should you be involved.
Some questions to ask yourself:
1. Do I have customers ? If Yes, well that means you need to look into managing your risk
2. Do I work with or engage with any one of the critical infrastructures as defined by the US Govt ? If Yes, you need to research.
3. Do I really know what cybe ...