The hack that took down Colonial Pipeline, leading to fuel supply shortages on the East Coast in May, was the result of a single compromised password, according to the Colonial Pipeline CEO when he testified before the U.S. Senate in June.
CEO Joseph Blount told the Senate that the hackers got into the system through a virtual private network account which didn’t use multi-factor authentication.
The hackers used ransomware to encrypt the files on the Colonial Pipeline system and held it “hostage” until the demanded ransom of nearly $5 million was paid.
Handling sensitive information is one of the most critical responsibilities faced by today's insurance agency. Regardless of the size or focus of your agency, cyber risk is a rapidly growing threat.
To prevent cyberattacks in your agency’s network, Big “I” Agents Council for Technology (ACT) can help you navigate cybersecurity with helpful resources you can use. ACT is always looking for ways to help you work smarter, save time and market services, so they have created best practices for the independent agency system on cybersecurity, digital/mobile, future trends and more.
The NEW “Cyber Guide 3.0” can help you understand the emerging risks, cybercrime trends and regulations, and find solutions to secure your agency.
To start out, there’s a quick self-assessment to help you quickly identify areas where you may need to become more cyber secure.
The guide explains the Gramm-Leach-Bliley Act (GLBA) in an easy-to-understand fashion. It is critical that all agents understand and comply with the GLBA requirements to protect their clients' data.
The Compliance and Protection Roadmap then illustrates 12 steps to take to help agencies meet cybersecurity regulatory requirements.
Get blueprints on how to become more cyber secure by visiting the ACT resource page.