cyber crime

Can Insurance Protect You and Your Business From Hackers

By Todd Halterman
Can Insurance Protect You and Your Business From Hackers

You’re not just left relying on LifeLock when it comes to protecting yourself from hackers these days. Now American International Group Inc (AIG) is partnering with insurers who offer products aimed at providing consumer safeguards against cyber criminals intent on filching personal data. AIG is now rolling out a product which offers coverage against expenses accrued in the fight against online threats like extortion and even online bullying. They call it “Family CyberEdge,” and the…

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Cyber crime still poses a costly hazard for businesses

By Consumer Insurance Guide Staff
Cyber crime still poses a costly hazard for businesses

Advancements in the Information Technology sector are opening up new applications, but also creating new risks. According to global reinsurer Swiss Re, so-called cyberrisks pose mounting challenges for companies, and corporate risk management needs to consider the threat of losses in turnover and reputational damage. In 2011, more than 232 million data records containing personal information were stolen or compromised globally, of which about 23 million records related to people in the U.S. According to…

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Watch out for cyber scams during online shopping

By Consumer Insurance Guide Staff
Watch out for cyber scams during online shopping

It’s expected that 70 percent of Americans will shop online this holiday season. While technology might be convenient for them, it’s an opportunity for scammers as well. Cyber Scrooges will be working overtime and online shoppers face new threats on their mobile devices, email and the Internet itself, according to McAfee, the technology security company. It warns consumers to be wary of the most common “12 Scams of Christmas.” “Using multiple devices provides the bad…

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Small business owners are targeted by hackers but think data breach unlikely

By Consumer Insurance Guide Staff
Small business owners are targeted by hackers but think data breach unlikely

Although the number of data breaches continues to rise among small businesses, 85 percent of small business owners were convinced they’re unlikely to take a cyber hit, according to a survey by The Hartford. Many of those surveyed indicted they weren’t taking security measures to protect their customer or employee data. “Most of the business owners surveyed believe they are not at risk, when in fact smaller businesses are increasingly being targeted,” Lynn LaGram, assistant vice…

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