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CYBER INSURANCE IS GROWING IN AUSTRALIA

26/07/2015 17:07

AUSTRALIAN CYBER SECURITY CENTER HIGHLIGHTS THE RISE OF CYBER ATTACKS IN THE COUNTRY A growing number of companies in Australia are beginning to find solace in cyber insurance protection. According to the Australian Cyber Security Center, the country’s digital networks are experiencing an...

Law Firms See Insurance as Bulwark Against Data Breach

26/07/2015 17:04

David Johnson had just finished meeting with a cybersecurity consultant about beefing up the company’s protections when he learned the servers had been hacked. As general counsel of Global Cash Access, a company that manages cash on hand for casinos, Johnson was highly concerned about...

Weekly Wrap: Insurance industry reacts to car hack by Lena Woods

24/07/2015 17:57

Industry reacts to car hack A leading cyber insurance expert has calmed fears following the cyber attack, reported on Insurance Business yesterday, that allows hackers to control a moving vehicle. The attack, first reported bywired.com, saw two security researchers take control of a...

Cyber Blackout Could Cost Insurers $71 Billion, Lloyd’s Reports by Caroline McDonald

24/07/2015 17:54

A cyberattack targeting the U.S. power grid would have widespread economic implications, resulting in insurance claims of between $21.4 billion and $71.1 billion in a worst case scenario, according to a report by Lloyd’s. Lloyd’s and the University of Cambridge’s Centre for Risk Studies recently...

United hackers given million free flight miles By Chris Foxx

17/07/2015 13:40

US airline United has rewarded two hackers who spotted security holes in its website with a million free flight miles each. The flight provider operates a "bug bounty" scheme that rewards hackers for privately disclosing security flaws rather than sharing them online. It has...

Cyber risk & aggregation - ‘the elephant in the room’ by Sarah Stephens, Head of Cyber, Technology and Media E&O, JLT Specialty

15/07/2015 13:33

We have reached a point where individuals and institutions are consistently reminded of the threats posed by cybercrime. The high profile breaches suffered by the likes of Target, Home Depot, JPMorgan, Citibank, and Premera Blue Cross lead one to the obvious conclusion that, regardless of size or...

Investors Put $4.6 Billion Into Cybersecurity Startups In The Last Two Years

15/07/2015 12:27

Q2'15 was strong for cybersecurity funding, with $704M invested across 47 deals. It was the highest quarterly funding total since Q2'14. Cybersecurity is increasingly a hot sector for investment, especially as more valuable information goes digital, and corporations continue to suffer high-profile...

4 Insurance Takeaways From Lloyd's Cyberattack Report By Jeff Sistrunk

14/07/2015 09:26

Law360, Los Angeles (July 13, 2015, 8:31 PM ET) -- Insurance market Lloyd's of London recently co-wrote a report predicting that a major cyberattack on the East Coast could trigger $70 billion in insurance claims, highlighting potentially glaring deficiencies in traditional and cyber-specific...

The top 8 coverages businesses look for in cyber policies by Caitlin Bronson

13/07/2015 11:52

More than half of corporate risk managers in the United States are now purchasing stand-alone cyber insurance policies, according to a recent survey of RIMS members. A reported 51% of respondents, representing organizations with more than $1 billion in revenue and a variety of industries, are...

Germany passes strict cyber-security law to protect ‘critical infrastructure’

13/07/2015 11:49

In the wake of ever-increasing cyber-security threats, Germany has passed legislation ordering that over 2,000 essential service providers implement new minimum information security standards or face penalties if they fail to do so within two years. The law passed its final hurdle in the upper...

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