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UnHack (the News): Insurance Challenges and Third-Party Vulnerabilities with Russell Teague
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July 15, 2024: Russell Teague, CISO at Fortified Health Security joins Drex for the news. They explore how ransomware is not only increasing in frequency but also inflating cyber insurance costs, raising questions about the future of coverage and premiums. How do health organizations balance the need for cyber insurance with the rising cost and risk of breaches? They also discuss the pervasive issue of third-party data breaches and the extended risk to fourth and fifth parties. How can health systems manage and mitigate these multi-layered risks effectively? The conversation touches on the responsibilities of service providers like Snowflake in enforcing security measures such as MFA, prompting us to consider where the accountability should lie. How should organizations prioritize their security measures in an environment where the threat landscape is continuously evolving?
Key Points:
- 00:00 Welcome to Unhack (the News)
- 01:35 Ransomware and Cyber Insurance Challenges
- 07:51 Third Party Data Breaches in Healthcare
- 13:22 Snowflake Breach and MFA Responsibilities
- 21:08 Conclusion and Final Thoughts
News articles:
- Ransomware is ravaging healthcare orgs—and making it harder for them to get insurance
- Healthcare Industry Gets a ‘B+’ on Cybersecurity for 2024
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