Cyber attacks

When breaches occur, regulatory ramifications can be as complex as the reputational damage to all parties involved will be great.

When breaches occur, regulatory ramifications can be as complex as the reputational damage to all parties involved will be great.

Employers should help improve security measures, Willis Towers Watson research finds.

Security measures, such as improved staff training, need to be stronger, Willis Towers Watson research shows.

With protocols already in place to comply with HIPAA’s requirements, plan sponsors are focusing on 401(k) data.

With protocols already in place to comply with HIPAA’s requirements on protected health information, plan sponsors are focusing on employee 401(k) data.

The Office for Civil Rights will begin investigating breaches or protected health information that affect less than 500 individuals, says attorney Sheryl Feutz-Harter.

When it comes to workplace security and identity protection, employers are increasingly turning to their brokers for solutions, says EZ Shield’s Angela Murphy.

After high profile breaches at Sony, Target and Yahoo, the next victims could be the insurance community. The target: employee Social Security numbers.

Fiduciaries who do not follow security standards may be personally liable to restore losses to plan participant benefits.

As payoffs grow, hackers are mounting more sophisticated attacks, and threats are increasingly pernicious, says FTC Chairwoman Edith Ramirez.

Plan sponsors would be wise to ask their healthcare vendors if they have insurance policies in place to cover data breaches and other risks, according to USI’s Paul King.

Plan sponsors would be wise to ask their healthcare vendors if they have insurance policies in place to cover data breaches and other risks, according to USI’s Paul King.

Retirement plan sponsors should develop a comprehensive risk management strategy that includes the periodic review of contractual protections with their TPAs.

Pension plans and welfare plan all store personal data on each participant and beneficiary, ranging from social security numbers and addresses to date of birth and health information. The more immediate and available personal data becomes, the greater the risk for a potential breach or unauthorized disclosure or access, as is evident from the cyber attacks on major retail operations, health care providers and the government.

JD Powers of Powers Insurance and Benefits discusses cyber risks and how to protect against them.