Learning Center Article
Spotlight Retail - Cyber Claims Studyby Mark Greisiger, NetDiligence | NetDiligence® | 06/18/2019
NetDiligence® is pleased to release this spotlight report on cyber claims within the Retail sector. From our dataset of over 1,200 claims provided by our insurance partners, we have classified and analyzed 124 claims from the Retail sector. These claims provide insight into losses sustained from cyber events during the five-year period 2013–2017. Because a large majority of people purchase goods and services using payment cards, and because the attack surface presented by both brick-and-mortar retail and e-commerce organizations is vast and full of vulnerabilities, it should come as no surprise that malicious actors target the Retail sector to steal credit and debit card information. For these reasons, we have seen more claims involving payment card data and PCI issues in Retail than in other sectors.
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What Insurers Need to Know About New York’s SHIELD Act
A Q&A with Laurie Kamaiko of Saul, Ewing, Arnstein & Lehr LLP
Going into effect in its entirety on March 21, 2020, the New York SHIELD (Stop Hacking and Improve Electronic Data Security) Act updates previous data security laws while creating more obligations and potential concerns for companies and their cyber insurers. We asked Laurie Kamaiko of Saul, Ewing, Arnstein and Lehr about this legislation and how insurers can prepare for its implementation.