A look back at 2014: The year of the data breach

By Chad Hemenway on January 1, 2015

??????????????Timing is everything.

When the Cyber Risk Network was launched early in 2014, we were combing through the Advisen Loss Insight database to declare Target the largest retail payment-card data breach of all time. The fallout from the breach was just happening. New information was coming in feverishly as, for probably the first time, the mainstream grabbed hold of the topic due to its widespread appeal.

Nine months later we were doing the same thing—moving Target from the perch and placing Home Depot in its place.

But in the meantime there was plenty to write about thanks to additional retail breaches, bank breaches, social media attacks, new emerging risks, the growth of the insurance marketplace, litigation developments, legislation, regulation and finally the plentiful story angles created by the massive attack at Sony Pictures Entertainment to end the year.

There is no doubt 2014 will be remembered by the cyber insurance industry and its partners in all aspects of breach response and investigation.

Here are some of the top data breach stories the Cyber Risk Network covered in 2014:

The past 12 months also allowed us to think about and write up trends we noticed and heard. Our blogs in 2014 provided members a look into what we and your peers are wondering, and what we have seen and heard.

Analysis of recent news and market trends allowed our members to be a part the network. The contributions from cyber insurance experts and attorneys were extremely valuable and informative. Additionally, Advisen white papers on hot topics supplemented this endeavor. To contribute write to chemenway@advisen.com

But what separates us from the pack is the data we possess. Whether to accompany a story or tell one through graphics, Advisen’s massive database allows the editorial staff to give our members something they can’t find anywhere else–information focused on industry segments, case trends, geography, causes of losses and sources of loss. Here are some examples.

The Cyber Risk Network also took deeper dives, writing feature stories on the marketplace, litigation trends, legislation and other aspects of the industry such as third-party vendors and focused reports on industries such as higher education, healthcare and energy.

Cyber Risk Network’s “Face Time” segments turned out to be one of the most informative and fun aspects of the network. Here, members are introduced to cyber experts covering various topics from their insurance, cybersecurity, tech or law perspectives.

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Chad Hemenway is Managing Editor of Advisen News. He has more than 15 years of journalist experience at a variety of online, daily, and weekly publications. He has covered P&C insurance news since 2007, and he has experience writing about all P&C lines as well as regulation and litigation. Chad won a Jesse H. Neal Award for Best Single Article in 2014 for his coverage of the insurance implications of traumatic brain injuries and Best News Coverage in 2013 for coverage of Superstorm Sandy. Contact Chad at 212.897.4824 or chemenway@advisen.com.