Advisen Ltd.: May 2015

Thursday, May 28, 2015

Data Breach Costs Projected to Hit $2 Trillion in 2019

New research from Juniper suggests that the annual cost of data breaches will top $2 trillion in 2019, the brunt of it striking North America.

“While it is responsible for under 80% of global criminal data breaches, the high-value nature of US breaches means they account for over 90% of the global cost of data breaches,” stated UK-based Juniper Research. “We assume that the cost-per-record is going to increase in future, as more sensitive data is stored online as a matter of course.”

Why Advisen Conferences?

http://www.advisenltd.com/events/conferences/ Advisen hosts conferences worldwide for the global P&C insurance industry. We consistently deliver an audience that is 25% or more comprised of Risk Managers & Insurance Buyers, Brokers (25%-30%), Insurance Companies (30%), Lawyers (10%), and other insurance professionals (5%).

Wednesday, May 27, 2015

Information Assets Underinsured From Cyber Attack, Aon/Ponemon Study Says

Companies are only insuring 12 percent of global information assets from the risk of cyber attack, compared with 51 percent of tangible property, according to a global study by Aon and Ponemon Institute.

The survey of more than 2,200 companies in almost 40 countries, looked at how companies qualify and quantify the financial risk to their tangible and intangible assets in the event of a network privacy or security incident.

Enterprise Risk Management Pays Dividends Across the Board, RIMS Says

Organizations employing mature risk management practices–as assessed with the RIMS Risk Maturity Model–realize a valuation premium of 25 percent, the Risk Management Society said.

“Anecdotal evidence of the business value of ERM is abundant, but organizations of all types and their management teams, committees and regulators have been looking for value measurements verified by independent research,” RIMS said in a report. It cited a 2014 valuation study by Mark Farrell and Ronan Gallagher using RMM data on publicly traded companies.

Sunday, May 24, 2015

Prescription for Trouble: Healthcare Industry Faces Rising Risk, Rising Losses

As personal health information (PHI) reaches a new level of popularity among cybercriminals, the healthcare industry finds itself at a challenging crossroads – how to deflect cyber attacks while following regulatory standards and keeping information accessible for medical professionals and patients.

Several recent studies, as well as Advisen data, illustrate the problems faced by healthcare entities. Medical identity theft skyrocketed over the last few years, with a McAfee Labs report estimating that a single health credential can sell for 10 to 20 times as much as a credit card number on the darknet. Medical ID theft can be both harder to detect and prevent, costing consumers thousands of dollars to resolve.