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Data Breach at Equifax
Laura Maxwell September 26, 2017 Posted in: Blog Posts, Cyber
The recent Equifax breach of 143 million individuals’ personal data was announced September 7, 2017. The hack included social security numbers, birth dates, addresses, driver’s license numbers and might also include credit card numbers. According to Privacy Rights Clearinghouse, “The number of people impacted and the sensitivity of the breached information may make this the most significant data breach ever.”
May I Have Some Neural Networks with My Insurance Data, Please?
Machine learning techniques, particularly Artificial Neural Networks (ANNs), have enjoyed an upsurge in popularity and practical applications in a myriad of disciplines.  The explosion in the variety and volume of available data, coupled with cheap data storage and fast computing power, have placed ANNs front and center in data scientists’ tool boxes. 
Insuring Reputational Risk
Joe Herbers June 20, 2017 Posted in: Blog Posts, Cyber, ERM, Insurance / Insurers
How does an organization protect itself from reputational risk? Purchasing cyber liability coverage, adding safeguards to its IT systems, ensuring its employees behave in a professional manner both inside and outside the company walls and paying close attention to social media platforms come to mind. But are all of these even enough? Most organizations understand they must plan ahead and be prepared to get out in front of an adverse event to reassure their audiences that business will go on as usual.
Cyber Risk Continues to Grow
Laura Maxwell April 18, 2017 Posted in: Blog Posts, Cyber, Insurance / Insurers
Insurance companies need better tools to effectively underwrite cyber liability risk, including data-driven approaches for underwriting using publicly-available data. The CAS Cyber Risk Task Force is an excellent place from which to start finding ways to help insurance companies manage this growing risk, both as potential victims and as insurers.
Cyber Risk at the ERM Symposium
Laura Maxwell April 19, 2016 Posted in: Blog Posts, Cyber, Insurance / Insurers

The Enterprise Risk Management (ERM) Symposium, presented by the Casualty Actuarial Society (CAS), Canadian Institute of Actuaries (CIA) and Society of Actuaries (SOA), was held April 6-8 in Arlington, Virginia. I attended two sessions on cyber risk and the speakers expressed some common themes. One stated that there were two kinds of companies: those that have had a data breach and those that are not aware they have had a data breach. More than 1,868 breaches were reported in the United States in 2014.

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