Article archive

Most UK companies not assessing suppliers for cyber risk, Marsh study finds

26/06/2015 07:05
Less than a third of UK businesses review their suppliers' exposure to cyber risk, according to a new study by insurance broker Marsh. In its UK cyber risk survey report for 2015, Marsh said that 69.4% of businesses it had surveyed said they "do not assess the suppliers and/or customers they...

Hacking the data secrets of Cyber Cover by Laura Scaife

24/06/2015 06:54
Cybercriminals use strategies to select their victims and are not always selective about who they target. Examples of commonly targeted entities include corporate bank accounts, which often lack the added layer of security available within personal accounts. A UK Government survey estimated that in...

Advisen Announces 2015 Cyber Risk Award Winners

21/06/2015 18:24
NEW YORK— June 18, 2015 – ACE Group’s Toby Merrill, CFC Underwriting’s Graeme Newman and ACE Group’s Marcel Van Peenen were each named Cyber Risk Industry Person of the Year in the USA, London and International markets respectively at the P&C industry’s second annual Cyber Risk Awards presented...

With the Increase in Data Breaches (and Their Cost), Cyber Insurance Is a Must

20/06/2015 08:08
Although it has been available for a decade or so, the cyber liability market is still something of the “Wild West,” in the words of Stephen Raptis, a partner in the Washington, D.C., office of Manatt, Phelps & Phillips LLP. Policy language is rarely standardized and premiums and coverage...

Experian Data Breach Readiness 2.0

17/06/2015 16:58
Experian Data Breach Readiness -  The Customer First Data Breach Response. A rapidly changing landscape means a radical rethink for UK businesses Over the last few years the data breach landscape has changed beyond recognition. More than four in ten British consumers (42%) have been affected...

RIMS Cyber Survey 2015: 51% of members have stand-alone cyber insurance policies by Rosalie Donlon

14/06/2015 08:28
Top three first-party exposures for risk managers are reputational harm, business interruption, and data breach response and notification  Every day the reports of cyber attacks become more alarming. According to a federal employee union, as reported by AP, on June 11 the recent...

Cyber attacks cost British industry £34bn a year by By Alan Tovey, Industry Editor

12/06/2015 11:24
As well as the multi-billion-pound price tag, the threat from hackers is holding business innovation back, a new report finds Defending Britain against cyber attacks and repairing the damage done by hackers who penetrate security systems costs businesses £34bn a year. The huge price tag...

Personal data now prime target for cyber criminals

11/06/2015 08:47
(Reuters) — Whoever was behind the latest theft of personal data from U.S. government computers appears to be following a new trend set by cyber criminals: targeting increasingly valuable medical records and personnel files. This data, experts say, is worth a lot more to cyber criminals than, say,...

Oceanwide launches new cyber risk assessment tool

11/06/2015 08:45
Oceanwide, An Insurity Company, has released a new cyber risk assessment tool designed to help insurers identify and mitigate company-specific risks to data and privacy. The tool is designed to allow insurance companies identify high-risk processes, policies, systems and third-party provider...

The Devil Is in the Details of Cyber by Roberta Anderson

08/06/2015 06:00
Summary: A major case, one of the first disputes under a cyber insurance policy that has resulted in litigation, shows why details matter so much. There’s a tempest amid the recent spring shower of cyber insurance cases. It isn’t the Recall Totalcase,[1] or the Travelers v. Federal...
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