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Cyber Risk Insurance – Evolving, Complex

21/10/2015 16:18

Cyber Risk Insurance is a critical coverage for attorneys, and the American Bar Association has a Guide to Cyber Coverage (see here). While the Guide acknowledges the active market for Cyber Risk Insurance, that comprehensive coverage is available, and that coverage...

Cyber Security: What Insurance Brokers Need to Know

21/10/2015 14:44

For insurance brokers looking to stand out in the marketplace cyber security is a great opportunity. The global annual spend on Cyber Liability Insurance has tripled over the last three years, from £550m to an estimated £1.6bn this year. And with 90% of this spend based in the US, there is space...

2015 Information Security and Cyber Liability Risk Management

20/10/2015 07:45

Advisen wrote a white paper that presents the results of “The Fifth Annual Survey on the Current State of and Trends in Information Security and Cyber Liability Risk Management”. The free, 18-page paper is sponsored by Zurich. Managing Cyber Risk Risk professionals increasingly view cyber risks as...

Cyber Liability Insurance Market Trends: Survey

20/10/2015 07:41

Advisen and PartnerRe released a white paper which presents the results of a comprehensive market survey on trends that are shaping the cyber insurance marketplace. The survey is intended to give insurance providers and brokers additional insight into the demand and growth potential for data breach...

Cyber Insurance — A Much Needed Thing for Bitcoin Sector

18/10/2015 07:37

The number of hacking attacks on various companies, irrespective of their business have been on a rise across the world. The increasing frequency and the extent of such attacks have driven the costs of obtaining a cyber insurance cover upwards. The premium for such insurance policies vary from...

Toyota to make networked cars standard in Japan, US

18/10/2015 07:22

NAGOYA -- Internet-connected sensors to monitor performance and alert drivers to component defects soon will become standard in Toyota Motor's U.S. and Japanese models -- the latest and broadest effort by a major automaker to promote networked vehicles. Toyota...

Dow Jones & Co. breached, current and former subscribers contacted

15/10/2015 13:29

Hackers broke into Dow Jones & Co. systems and were able to access information on fewer than 3,500 of the company's current and former subscribers. In a letter sent to customers, company CEO William Lewis, publisher of the Wall Street Journal, also owned by News Corp., said...

Insurance Telematics Data Privacy: More Questions than Answers

15/10/2015 05:48

As auto insurance savings grow, privacy concerns shrink. That, at least, seems to be the trend: Customers who get lower UBI premiums tend to be less concerned about how telematics will affect their privacy. Last September, Robin Harbage of Towers Watson said that customers “are learning UBI...

Cybersecurity Risk: Law and Trends by Shawn Tuma

12/10/2015 16:21

“Boards that choose to ignore, or minimise, the importance of cybersecurity oversight responsibility, do so at their own peril,” said Luis A Aguilar, commissioner at the US Securities and Exchange Commission (SEC), in June 2014. Cybersecurity risk is so pervasive that it is causing an...

Cyber insurance market booms, but insurers struggle to define policies

12/10/2015 15:44

Transferring risk in exchange of a premium makes commercial sense for businesses and organizations. In the cyber insurance market, several insurers provide value-added services such as access to a specialist lawyer, IT forensics experts and crisis management in the event of a data breach. This...

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