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Stroz Friedberg’s 2017 Cybersecurity Predictions Report

08/01/2017 22:28

Last year, we shared a graphical commentary detailing our top six predictions for 2016. This year, with cybersecurity firmly entrenched as one of the most consequential issues impacting international security, politics, economic stability, and transactional crime, an understanding of existing and...

Making UK directors personally liable for data privacy breaches

06/01/2017 18:53

Among the proposals for the U.K.’s new Digital Economy Bill (the Bill), due to become law next spring, is one under which company directors would become personally liable for payment of fines as a result of nuisance calls being made by their companies. At a recent House of Commons...

UK SMEs will face a growing cyber threat in 2017

04/01/2017 14:32

Only 9 per cent of UK SMEs have insurance in place to protect from a cyber threat despite the fact that more than one quarter (28 per cent) said they would go bust if faced with an unexpected £50,000 bill, according to commercial insurer RSA. Yet the average cost of an attack is...

Trend Micro Report Forecasts Rise of Ransomware & Email Compromise Attacks in 2017

31/12/2016 19:32

A new Trend Micro report lists cybersecurity predictions in 2017 that will influence the movement of the threat landscape such as a rise in ransomware and email compromise attacks. The report titled “The Next Tier” predicts the number of new ransomware families will...

Cyber in '17: What insurance professionals should expect by Erin Ayers, Advisen

23/12/2016 19:29

2016 may well be the year that cybersecurity truly came to the attention of the world. Hacked emails, multiple massive data breaches, the proliferation of ransomware, and the grim specter of cyber espionage made it clear that the fight against cyber crime at every level will require expertise,...

Insurers handling 'hundreds' of breach claims

23/12/2016 07:23

Insurance claims for data breaches are being made at a rate of more than one a day, figures from CFC Underwriting suggest. The firm said that in 2016 it had handled more than 400 claims on cyber-breach policies it had issued. The main types of attack being claimed for were privacy breaches and the...

Determining consequential damages from data breach ‘difficult to apply in practice:’ Willis Towers Watson

22/12/2016 13:41

A ‘significant percentage’ of data breaches involve a loss or compromise of data in the hands of third-party vendors, and many technology vendor agreements cap those vendors’ liability to fees paid and leave customers on the hook for consequential, incidental and indirect damages, suggests a recent...

Market Research Engine: Cyber Security Market Worth US$ 170 Billion by 2022

20/12/2016 11:49

New York, December 19: Market Research Engine has published a new report titled as “Cyber Security Market: Global Industry Analysis and Opportunity Assessment 2015 – 2022” The cyber security market is anticipated to value USD 172 billion at a healthy CAGR of 10% during the forecast period. Browse...

Quantifying Cyber Risks

16/12/2016 07:34

Galvanized by recent cyber attacks against corporations, boards of directors are pushing risk managers and the insurance industry to quantify cyber risks. The demand for better predictive data on computer breaches stems from directors’ desire for clarity on how to either self-fund or transfer...

If Santa Claus did not have Cyber Insurance

15/12/2016 22:36

Santa Claus had been the victim of a significant cyber-attack by hackers who do not love Christmas (the hacker group, led by Scrooge, is called skroutzonimus) in order to control the naughty list he maintains with the reasoning for not sending the gifts. The hackers went...

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