Cyber Insurance 3.0: Risks, Rewards and Future Outlook
Jun 6, 2013
Cyber insurance, the fastest-growing specialty line in the commercial market, is rapidly becoming vital to the financial health of organizations. Although it has been available since the late 1990s, cyber insurance is now gaining momentum among small and mid-sized organizations. In the past, it was primarily purchased by large and high-tech companies. It is no coincidence that the popularity of cyber insurance is escalating along with the number of data breach incidents. Whether caused by a hacker or human error, the frequency and severity of breaches are increasing.
First-party fraud is resurging. This is why we recently partnered with CEB TowerGroup to create a co-branded insight brief, entitled The Very Real Consequences of Synthetic Identities, to provide you an overview of synthetic fraud and some strategies that can help prevent this fraud. Some key points from the brief include:
Defining synthetic identity
Methods by which criminals hide among us
Checklist for a progressive approach for the discovery and resolution of the SID epidemic
Many companies use a traditional form of authentication that uses identity elements -- such as Social Security number, date of birth, name and address -- provided by and applicant and then compares these data points to data from trusted sources, such as credit bureaus. Problematically, most of this data has already been stolen, making this form of authentication unreliable.
In this CSO Magazine article, Keir Breitenfeld, senior business consultant at Experian, discusses new and dynamic authentication factors that help prevent identity theft while devaluing data for fraudsters. Download the full resource to learn more.
One year later: Do you know where criminals are concentrating their attention, and how to protect yourself against emerging fraud trends since the rollout of the EMV chip? We have the details on these new vulnerabilities to help you stay at the top of your game.
In our latest white paper, you will learn where criminals are actively probing the credit card industry for new vulnerabilities; how e-commerce fraud and address manipulation fraud are being impacted the most, and discover how to protect yourself from these fraud schemes.
Last year, mobile made up a third of all U.S. commerce. And in banking, the mobile channel is quickly becoming the customer’s preferred channel. The mobile channel offers many opportunities for your business and your customers — and unfortunately for fraudsters too.
Go beyond understanding fraud protection and the customer experience in your offline and online channels. Give your customers the freedom they need to do anything in any channel, without taking on more risk.
Gain valuable insight and deeper understanding of the complex world of mobile fraud management, effective mobile fraud strategies in practice, and tips for evaluating your mobile fraud strategy.
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