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How a single cyber incident can significantly undermine the credibility of such a large company.
The company First American Financial Corporation, which ranks second among the largest insurance companies in the United States, faced a serious cyber attack . In this regard, some of the company's systems were disabled to minimize the consequences of this incident. The company's official website was also temporarily disabled.
Founded in 1889, First American specializes in providing financial and intermediary services in the real estate industry. With annual revenue of $ 7.6 billion, more than 21,000 employees and hundreds of thousands of customers, the company is a significant player in the insurance market.
Not so long ago, on November 28, First American paid a fine of one million dollars for cybersecurity violations revealed as a result of hacking in May 2019. According to the New York State Financial Services Authority, the company has accumulated significant amounts of personal and financial customer data, but has not provided them with a decent level of protection, which makes it an attractive target for cybercriminals.
So far, no known hacker groups have claimed responsibility for the attack on First American. An official representative of the company also did not provide comments.
In addition to First American, a similar cyberattack recently affected another insurance company — Fidelity National Financial. This incident, which the company reported last month, also led to temporary system failures.
Fidelity National Financial said that the cyberattack was contained on November 26, and work is still underway to restore the normal functioning of the business. During the attack, certain credentials were obtained, but the details and possible consequences are not yet disclosed.
The company First American Financial Corporation, which ranks second among the largest insurance companies in the United States, faced a serious cyber attack . In this regard, some of the company's systems were disabled to minimize the consequences of this incident. The company's official website was also temporarily disabled.
Founded in 1889, First American specializes in providing financial and intermediary services in the real estate industry. With annual revenue of $ 7.6 billion, more than 21,000 employees and hundreds of thousands of customers, the company is a significant player in the insurance market.
Not so long ago, on November 28, First American paid a fine of one million dollars for cybersecurity violations revealed as a result of hacking in May 2019. According to the New York State Financial Services Authority, the company has accumulated significant amounts of personal and financial customer data, but has not provided them with a decent level of protection, which makes it an attractive target for cybercriminals.
So far, no known hacker groups have claimed responsibility for the attack on First American. An official representative of the company also did not provide comments.
In addition to First American, a similar cyberattack recently affected another insurance company — Fidelity National Financial. This incident, which the company reported last month, also led to temporary system failures.
Fidelity National Financial said that the cyberattack was contained on November 26, and work is still underway to restore the normal functioning of the business. During the attack, certain credentials were obtained, but the details and possible consequences are not yet disclosed.
