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Cyber-Risk in Marine Transportation

06/04/2016 20:48

Cyber-attacks represent one of the most significant threats facing international businesses today, and are increasing in severity. For the insurance industry, such risk represents a highly significant opportunity. Yet while many insurance companies, particularly in the UK, currently offer such...

Cyber Risk Handbook 2015

01/04/2016 17:31

Cyber risk is an escalating threat and one of the most challenging issues facing the world today. Attacks are becoming more frequent, more intense and more sophisticated. Motivations are wide-ranging – from financial gain to threatening critical infrastructure and national security – and the nature...

Keep up-to-date with the proposed changes to European data protection law.

30/03/2016 07:18

On January 25, 2012, the European Commission released its widely anticipated data protection legislative framework proposal ("Draft Regulation"), intended to replace Directive 95/46/EC. The Draft Regulation will have a significant and wide-ranging impact on businesses, imposing new...

Reducing cyber risk of banks by M. R. Khan

27/03/2016 22:05

In the blockbuster film Terminator II, a young John Connor (played by Edward Furlong) steals money from an ATM using his laptop. The film was released in 1991, however, the story was set in 1995. While in 1991 the technology used by John Connor in the film seemed cleverly 'new', in reality, by...

Are You Adequately Protected by Your Cybersecurity Insurance? The Sky is the Sub-Limit

23/03/2016 05:52

For businesses and nonprofit organizations searching for cyber insurance, it is important to know if your coverage limits are adequate. Whether you are in the market for a new policy or renewing an existing one, you should explore whether your policy has a “sub-limit” that places limitations on...

Navigating a Data Breach With Beazley’s ‘SWAT Team’

22/03/2016 07:38

LONDON—Do you know what to do if your hotel has been hacked? Unfortunately, no company is immune to the problem, as illustrated in recently publicized events involving major hotel chains. Hackers pose a threat to any hotel accepting credit cards or housing company data, but you don’t have to be a...

Fitch: Rapid Growth in Cyber Insurance Would Be Credit-Negative

22/03/2016 07:33

CHICAGO--(BUSINESS WIRE)--Cyber risk insurance is the fastest growing segment in property/casualty insurance with an estimated $3 billion in premiums in 2015 and anticipated to triple in four years. Approximately 50 insurance carriers now offer some form of standalone cyber insurance coverage....

Cyber Insurance: A Guide For Policymakers by Guest Post

22/03/2016 06:24

Washington, D.C. – The market for cyber insurance, a product that did not even exist before the mid-1990s, is booming. A new report from the Bipartisan Policy Center’s insurance task force, Cyber Insurance: A Guide for Policymakers, looks at the need to create a well-functioning market...

Protect Yourself Against Cyber Fraud and Online Identity Theft

20/03/2016 09:05

TORONTO, March 17, 2016 /CNW/ - This Fraud Awareness Month, Insurance Bureau of Canada (IBC) offers its Top 10 tips to protect against cyber fraud and online identity theft. "We all spend a lot of time on the internet, which has made everyday life more convenient. Now...

Cyber Risks and Insurance in the Marine Industry

18/03/2016 06:22

The first wireless radio equipment was used aboard Lightship 70 in 1899.[1] Over the next 115 years, the use of technology in the maritime domain has driven rapid change in the United States Coast Guard’s operating environment — such as the use of portable high frequency direction finding radios to...

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