Posted October 20, 2015
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“The dramatic increase in the number of high-profile cyber-attacks in the past couple of years, targeting the likes of health insurers Anthem or Home Depot has prompted the insurers to skyrocket cyber premiums. This has gone so far that some companies have no other choice but to pay from their pockets, in case of a hard-hitting cyber-attack. According to a report by Reuters, average rates for retailers surged 32 per cent in the first half of this year, after staying flat in 2014, according to previously unreported figures from Marsh.”
Legal and Regulations
The Securities and Exchange Commissin (SEC) announced that R.T. Jones Capital Equities Management, a St. Louis-based investment adviser, agreed to settle charges that it failed to establish the required cybersecurity policies and procedures before a data breach that compromised the personally identifiable information (PII) of approximately 100,000 people, including many clients.
“Computer-maker Dell Inc struck a deal on Monday to buy data storage company EMC Corp (EMC.N) for $67 billion (44 billion pounds), setting a record in the technology industry, as it tries to transform itself into a giant in the fast-growing market for managing and storing corporate data. The acquisition, the year’s third-largest in all sectors, highlights the frenzy of dealmaking sweeping the economy, as big or mature companies take advantage of low interest rates to buy rivals as a way to spur growth.”
“A U.S. computer security system used to cross reference passengers against the terror watch list reportedly went down for some time Wednesday night impacting travel across the country. A Department of Homeland Security official told CBS4 News a router at JFK International Airport went off line which required a “manual process of vetting against the (secure flight) watch list.” The DHS official said that while travelers across the nation were affected, JFK suffered the most impact.”