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Insurance for Internet of Things Companies
Insurance for Internet of Things Companies — what you need to know The Internet of Things space is exploding right now and shows no signs of slowing down. In fact, some sources estimate that there will be 200 billion connected devices on the planet by 2020. The current... September 5 • Cyber Liability • Directors & Officers • Errors & Omissions • General Liability
Carl Niedbala
Managing Partner; COO & Co-Founder
How a Data Breach can Destroy Your Startup [Infographic]
Our friends over at egress sent us this really great infographic that shows the current state of cybersecurity and data breach issues surrounding costs, incidence rates, and those most effected. The numbers are based on data collect by the UK-based Department for Business Innovation & Skills, but in an ever-growing global economy, they certainly
Cyber 101: Data breach Notification Laws and Costs
**This is a guest post by Scott Smedresman of Sorin Rand.**
Startup CEOs & Cyber Security: Track your Tech!
Why startup CEOs should care about cyber security The data breach that Target suffered around Thanksgiving last year has finally worked its way up to the top of the organizational totem pole. A couple of weeks ago, Target’s CEO Gregg Steinhafel lost his job a result of the cyber security shortcomings or liabilities that cost the company
Data’s a Risky Business: 2014 Data Breach Costs are Soaring
Every year (or at least the last 9 years), an independent research organization called the Ponemon Institute does a study on the state of data security and 2014 data breach costs. Its purpose is to determine the predominant causes of and costs related to data breaches. The Institute takes into account many factors beyond legal-related
Beware! WordPress Security Issues Discovered
In a somewhat ironic twist, popular cybersecurity blog Krebs on Security recently suffered a cyber attack. The site, just like ours and at least 60 million others out there, is built on WordPress, and the attack illuminated some troubling WordPress security issues. So what exactly happened and how can you prevent this from happening to
Why Startups Should Care About the New US Cybersecurity Framework
With potentially 70 million effected by the recent Target data breach, the US government thinks it’s time to talk about the elephant in the room for the tech world: Cybersecurity protocol.
Target’s Cyber and D&O Insurance Might Save Them Serious Cash
We can’t resist talking about this Target Data breach incident. It has become a major talking point in tech community and the news that keeps surfacing makes for a great little case study. So in the latest bit of news to surface:
Snapchat gets hacked, basically says “NBD, you guys”
Only weeks after Snapchat made the headlights for spurning a $3+ billion buyout offer, the company is back in the limelight in a less-than-ideal fashion.
UPDATE: Target’s Data Breach and the Need for Cyber Liability Insurance
Recently we wrote about the data breach that occurred at Target’s point-of-sale systems in stores across America. The breach lead to the theft of roughly 40 million credit card numbers, names, and CSV codes. Here’s what’s been happening since the announcement:
Target: the Latest Data Breach Victim
Since we rarely go more than a couple weeks without a data breach post, it seems we’re a bit overdue. It looks like we can get back on track thanks to Target’s point-of-sale systems and their security weaknesses. If you were out braving the angry mobs this black Friday and you happened to “storm
A Brief Look at User Authentication Techniques
Almost every client we work with stores or uses some sort of Personal Identifiable Information (“PII”). This probably reflects our apparent desire to have seamless/uber equivalents for literally every possible purchase of goods and services. In any case, there’s a lot of personal data floating around the interwebs these days. That should make security
What Startups Need to Know About Business Interruption Insurance
What is it? At a very high level, business interruption insurance (“BII”) protects the insured when business operations are interrupted (no, really?!). Typically this coverage is paired with others, including General Liability and Cyber Liability.
Apparently Everyone’s Getting Hacked Right Now
So apparently everyone’s is getting hacked right now. If stories keep popping up this often, maybe its time to just start doing a weekly data breach post. Also, this much activity is totally justifying why we harp on the importance of Cyber Liability coverage. Just sayin’. Anyway, here’s what happened in the last week or
Even Sony Can Mess Up Their Insurance
Admittedly this probably can’t be considered a “current” event, but we stumbled across this article somewhere on the interwebs and it’s an important story to tell (particularly on an insurance blog). Big lessons can be learned by this one. Here’s the gist:
New European Laws = New Cyber Liability for Tech
Cause It has now been several months since NSA contractor Edward Snowden first leaked information about the organization’s activities.
Startup Cyber Risk Checklist
Cyber liability is a huge area of exposure for most startups. Even if you’re not a “tech” startup per se, most tech companies today tend to leverage 3rd party tech products in ways that can leave them exposed.
Insurance for B2C services companies
The Space There’s a new breed of technology-enabled B2C services startups and we deal with a ton of them at Founder Shield. Think Uber, GetMaid, Makespace…all of these companies use custom platforms to access traditional service providers in very non-traditional ways. This creates exposure to a wide variety of liability. Here’s a quick look:
Startups Beware! CA Breach Notification Laws Expanded
The New CA Breach Notification Law If you’re a tech startup, your duties to protect your users’ personal information just got a bit more onerous. Last Friday (Sept 27th), Governor Jerry Brown signed a bill into law that expands the security/data breach notification requirements beyond their current spectrum.
Insurance for SaaS & Enterprise Companies
The Space The SaaS space is hot spot for startups. We work with several companies building SaaS solutions, ranging from data collection to “consultative sales” to outpatient management and all done in the cloud.
Startup Insurance & Cyber Liability realities you might not expect…
Cyber Liability Insurance is one of the biggest issues we deal with at Founder Shield. The vast majority of our clients are either straight tech startups or they’re leveraging technology to make their product or service scale. I think we can all agree that it’s probably impossible to run a startup these days without a