Article archive

Beazley: Is your incident response plan up to scratch? by Matt Smith

25/09/2015 04:55
Organisations that believe they have incident response plans could be at risk because the documents have not been put together properly or updated regularly. Sandra Cole, UK breach response manager at Beazley, told Business Reporter ahead of next week’s R3 summit that firms...

Insurance and education should be weapons in fight against cyber-crime by Elliott Holley

24/09/2015 06:59
The majority of businesses do not have cyber security insurance, with many not even aware such protection exists – and even those that do have insurance in place may find themselves at a loss if they don’t have the correct cover. The solution may be to mandate more data sharing and raise public...

Lloyd's of London insurers form cyber coverage consortium

24/09/2015 06:54
  Beazley P.L.C., Aspen Insurance Holdings Ltd., and Brit Global Specialty have launched a consortium to underwrite cyber data breach coverage at Lloyd's of London for businesses domiciled outside of the United States, Beazley announced Monday. The consortium, to be known as the...

UK businesses suffer 40% more targeted cyber attacks than rest of Europe by Neil Ford

22/09/2015 09:41
New research from Quocirca and Trend Micro into “the preparedness of European organisations to deal with the aftermath of targeted attacks” has found that UK businesses suffer 40% more targeted cyber attacks than their continental counterparts. Attitudes to targeted cyber attacks,...

Why it is important to tap into the potential of cyber insurance

22/09/2015 06:25
Businesses are beginning to recognize the importance of protection against cyber attacks Cyber insurance is a potentially huge—but largely untapped—opportunity for insurers and reinsurers globally. The global cyber insurance market could grow to $5 billion in annual premiums by 2018 and at least...

Connected mascara? L'Oreal explores the Internet of Things by Shona Ghosh

20/09/2015 07:38
L'Oreal is exploring the idea of smart make-up and conducting internal development work on the Internet of Things. The technology could allow the beauty company to give connectivity to "dumb" objects like lipstick or mascara, giving it a new way to track customers. The company’s head of...

My Company Doesn’t Have Cyberinsurance: Where Do I Start?

19/09/2015 14:54
Cyber risks and cyberinsurance are hot topics in almost every industry. However, many companies do not have cyberinsurance yet and often don’t know where to start or how to evaluate their cyber risks and need for coverage, let alone how to identify carriers and forms offering...

Cyber liability: The next game-changer in E&O by Caitlin Bronson

17/09/2015 15:16
Last year, Wyndham Worldwide Corp. was successfully sued by the Federal Trade Commission for three major data breaches the company had suffered in the past three years. The basis? Wyndham Worldwide was accused of unfair trade practices and misleading customers into believing their cardholder data...

In focus: The data question by Sam Barrett

16/09/2015 14:38
SMEs are increasingly at risk from cyber criminals and brokers are at the forefront of advising and protecting clients from online attacks. Whether it is customers' personal details, credit card records or trade secrets, data is key to the operations and success of many businesses today. But, as...

Cyber insurance will become a $7.5-billion industry in the next 5 years, and it's ripe for disruption

14/09/2015 13:33
LONDON: The cyber insurance market will triple in size to US$7.5 billion in annual premiums by 2020 and the insurance industry could face competition from disruptors such as Google if it does not act fast to develop products, a report said. Insurers and reinsurers are charging high prices...
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