FinTech

The insurance industry operates on a foundation of trust. Independent brokers and agencies hold decades of sensitive client data, including medical histories, financial records, Social Security numbers, and other information that clients entrust you to protect. Yet in 2025, that trust faces an unprecedented crisis. For independent agencies attending NAILBA 44 this week, the question isn’t whether data security matters—it’s whether your current security measures actually protect data when you’re using it. The numbers tell a stark story: the healthcare and insurance sectors experienced record-breaking breach volumes in 2024, with more than 275 million healthcare records compromised—representing 82% of the U.S. population. Average breach costs now reach $7.42 – $9.77 million per incident for healthcare organizations, according to IBM’s 2024-2025 Cost of a Data Breach reports. The Change Healthcare breach alone compromised 192.7 million records and caused losses exceeding $3.1 billion, demonstrating how a single third-party compromise can cascade across the entire industry. The […]

Credit unions have long stood as bastions of trust in the financial services industry, built on a foundation of member-centric values and community service. Their commitment to safeguarding member data is not just a regulatory requirement but a cornerstone of their operational philosophy. However, the landscape of cybersecurity threats targeting credit unions has evolved dramatically in recent years, with increasingly sophisticated attacks specifically designed to exploit vulnerabilities in financial systems. Credit unions now face a perfect storm of cybersecurity challenges: They hold valuable financial and personal data but often operate with more limited security resources than larger banking institutions This combination makes them particularly attractive targets for cybercriminals seeking high-value data with potentially lower barriers to entry According to IBM, financial services firms are 300 times more likely to be targeted by a cyber attack, with an average breach cost of $5.9 million USD The National Credit Union Administration (NCUA) […]