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Change Healthcare: The Breach That Shook An Industry And Proposed New Legislation

On February 21, 2024, Change Healthcare, a recently acquired subsidiary of UnitedHealth Group, fell victim to a ransomware attack that accessed Change’s oldest system. It included an employee phishing incident, the lack of proper multi-factor authentication (MFA), and surprisingly enough, the building's HVAC portal system. It rendered their backups useless. Change Healthcare The attack on Change Healthcare forced the company to shut down its systems, affecting hundreds of industry services including critical benefits verification, claims submission, patient prescription and reimbursement fulfillment plans, and disrupting healthcare operations for millions of Americans.  Who was affected in the Change Healthcare Breach? The breach included highly sensitive information such as medical diagnoses, test results, personal identifiers, and Social Security numbers. According to data released by First Health Advisory, a digital health risk assurance firm, they described the breach as t...

Cyber Insurance: Protection from the unexpected breach

Imagine a business owner facing the aftermath of a devastating fire, their physical assets destroyed and their operations halted.  Cyber insurance acts as a safety net, providing financial protection against the unforeseen consequences of cyber attacks.  And just as insurance protects businesses from physical disasters, cyber insurance safeguards against financial losses and reputational damage caused by data breaches, ransomware attacks, and other cyber threats. Investing In Cyber Insurance Small businesses need to carefully evaluate their cyber insurance options while considering the level of coverage, exclusions, and potential deductibles.  By investing in cyber insurance, small companies can mitigate the financial impact of cyber attacks and ensure their continued operations. ​ Five "Must Have" Security Controls To Be Considered Insurable: These are the minimums insurance companies want to see: Multi-Factor Authentication (MFA): You probably have seen this before....

Unraveling the Maze: Cybersecurity Made Simple for Small Business

Picture this: a hacker infiltrates your small company's network, and before you know it, they hold your data hostage or exploit it for malicious purposes.  The ever-evolving landscape of cyber threats may seem like an insurmountable challenge, but fear not – there are ways to improve your defenses and navigate the intricate world of cybersecurity. In an era where hackers and ransomware run rampant in the digital environment, the vulnerability of small businesses is more pressing than just a few years ago.  As a small business owner, the topic of cyber threats might seem overwhelming , often compounded by the cryptic language of the cybersecurity industry. I sometimes feel the cybersecurity community has done a poor job marketing and, in part, confusing the consumer with acronyms and scary technical terms.  Acronyms like EDR, SOC, and NextGen AV mean little to most people. They leave folks with more questions than answers.  I believe the simpler cybersecurity can be ...