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FTSE 100 Companies Could Face Up to £5 Billion a Year in Fines When GDPR Tsunami Hits Our Shores

22/05/2017 06:52

LONDON--(BUSINESS WIRE)--FTSE 100 companies could face fines of up to £5 billion a year if they don’t comply with the EU General Data Protection Regulation (GDPR), according to analysis by global management consultancy Oliver Wyman. The EU regulation, which will overhaul the way companies...

Node International appoints Charles Taylor to bolster cyber insurance services

21/05/2017 09:38

Charles Taylor Insurance Services has been appointed by cyber-MGA Node International to deliver an end-to-end operations and administration management service. Under the arrangement, Node International will benefit from Charles Taylor’s broker incubator service. Node International CEO Neil...

“Slow but steady” trend in take-up rates among U.S. cyber insurance clients: Council of Insurance Agents & Brokers

21/05/2017 09:16

There is a “slow but steady” trend in take-up rates among cyber insurance clients and prices continue to stabilize, according to a recent survey from the Council of Insurance Agents & Brokers (CIAB) in Washington, DC. When it comes to purchasing cyber insurance, clients are beginning to ask the...

WannaCry was the first true cyber catastrophe event: RMS

21/05/2017 09:14

RMS cyber risk management expert, Tom Harvey, called the recent WannaCry ransomware attack that hit businesses across the globe the world’s “first ever cyber-catastrophe,” he told Reinsurance News it demonstrates the systemic nature of the risk with “a single vulnerability resulting in hundreds of...

Brokers report surge in cyber demand

18/05/2017 06:55

Cyber insurance brokers reported a spike in calls from clients seeking cover following the WannaCrypt ransomware attack that hit 150 countries over the weekend. An increasing number of firms and public agencies are worried about security vulnerabilities and seeking guidance to make sure...

Global attacks spur demand for cyber insurance, says Fitch Ratings

17/05/2017 11:58

KUALA LUMPUR (May 16): Fitch Ratings said the slew of recent ransomware attacks in over 150 countries has revealed the widening scope of corporations' cyber risk exposures, which is likely to increase demand for related insurance protection. In a statement on its website May 15, the ratings agency...

Cyber Insurance Boom on the Horizon

17/05/2017 11:54

The most recent global attack has prompted many in the industry to bet on the rapid growth of cyber insurance. Some predict the market will eventually overtake car insurance. While the global WannaCry ransomware attacks left Germany relatively unscathed, the narrow escape was a serious...

Interview: Gemalto's Rana Gupta talks secure breaches, encryption and cyber attacks

16/05/2017 09:42

Your company's information is always at risk of being stolen, but what if that stolen information is encrypted - and worthless to hackers? We talked to Rana Gupta, Gemalto’s vice president of Identity & Data Protection. He works with customers and partners to understand how data breaches...

What to do in the first 24 hours after a cyber-attack

15/05/2017 22:04

As you will no doubt have seen in the news, there has recently been a global outbreak of ransomware which has hit more than 200,000 victims in 150 countries, with the NHS being the most high-profile victim in the UK. A common prevention method taken against ransomware and cyber-attacks, is to focus...

Lockton cyber head: Brokers “being pushed into a more advisory role”

09/05/2017 15:08

A report released yesterday claimed that brokers are failing clients when it comes to cyber insurance. Research from CFC Underwriting found that over half of UK-based SMEs claim their broker has not even raised the issue of cyber coverage with them, despite being one of the hottest topics...

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