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(EurActiv) - Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market. But their lack of experience and skills handling hackers and data breaches may keep their ambitions in check. High profile cases of hackers seizing sensitive customer data from companies, such as US retailer Target Corp or e-commerce company eBay Inc, have executives checking their insurance policies. Increasingly, corporate risk managers are seeing insurance against cyber crime as necessary budget spending rather than just nice to have. The insurance brokerage arm of Marsh & McLennan Companies estimates that the US cyber insurance market was worth $1 billion (€0.73bn) last year in gross written premiums, and could reach as much as $2 billion (€1.4bn) this year. The European market is currently a fraction of that, at around $150 million (€110mn), but is growing by 50 to 100% annually, according to Marsh. Those numbers represent a sliver of the overall insurance market, which is growing at a far more sluggish rate. Premiums are set to grow only 2.8% this year in inflation-adjusted terms, according to Munich Re, the world's biggest reinsurer.

Source: http://www.huffingtonpost.com/jason-alderman/dont-get-spoofed-by-rogue_b_3574710.html When caller ID first arrived on the scene it seemed like a godsend to many people: Now you could easily identify who was on the line and ignore unwanted calls, whether from telemarketers, an ex-boyfriend or an unfriendly collection agency. But as often happens, unscrupulous individuals soon began manipulating the technology to defraud people by pretending to be someone else. Their scheme is called "caller ID spoofing" and disturbingly, it's perfectly legal in many cases. Here's how caller ID spoofing works and what precautions you should take to avoid being victimized: For a very low cost, businesses and individuals can use widely available caller ID spoofing software to generate calls which alter the telephone number and/or name that appear on the recipient's caller ID screen. Police, private investigators and collection agencies have used legal spoofing services for many years. Others who might have a legitimate reason to hide their identity when making a call include domestic violence victims and doctors returning patient calls who don't wish to release their private telephone numbers. Beyond that, the lines of legality begin to blur. The Truth in Caller ID Act of 2009 prohibits anyone from transmitting misleading or inaccurate caller ID information with the intent to defraud, cause harm or wrongfully obtain anything of value. Violators can be penalized up to $10,000 for each infraction. Unfortunately, such penalties haven't dissuaded many scammers. One common caller ID scam involves spoofers pretending to represent a bank, government agency, insurer, credit card company or other organization with which you do business. They count on you being reassured after recognizing the company's name on your screen. Related Articles: http://hass-associates-daffy.wikia.com/wiki/Main_Page Under the pretext of warning about an urgent situation (breached account, late payment,