Article archive

Time to smell the coffee about Data Breaches by Kevin Duffey

25/04/2015 08:00
The largest, most popular and fastest growing coffee shop chain in Britain has just written to Loyalty Card members, announcing that their data has been breached. Costa Coffee and their owners, the Whitbread Group, deserve our sympathy.  It looks like they have suffered a criminal...

Cyber insurance no substitute for cyber security by Richard Pharro

24/04/2015 11:24
The surge in cyber insurance uptake underlines the attention cyber risk is now getting in the Boardroom and a greater understanding of cyber security issues across British industry.   There is an expectation the cyber insurance market is set to grow significantly throughout 2015 and beyond. In...

General insurance is not cyberinsurance

23/04/2015 14:12
A major problem, according to Tracie Grella, global head of professional liability for New York-based insurance provider AIG Inc., is that enterprises often mistakenly believe that general insurance will cover cyberattacks, which is rarely true. "When you're seeing in the news about cyberinsurance...

What happens when the economics of everything meet the internet of things? by Miles Mckenna

23/04/2015 11:09
When we think of eradicating extreme poverty, most of us associate this idea with the provision of basic needs. Food. Water. Shelter. Some argue to include clean air, security, even access to basic healthcare and primary education. But what about access to the internet? Where does the internet fit...

50 billion connected IoT devices by 2020 by Jaclyn Brandt

23/04/2015 07:50
Even though there are only 15 billion devices on the Internet of Things (IoT) today,  a new report found that there will be 50 billion devices by 2020 -- according to a new report by Cisco and DHL.  According to Cisco, the increased deployment will affect utilities in many ways. The...

Cyber insurance market spurred by data breach impact, UK government backing and EU privacy reforms, says expert

22/04/2015 14:18
Rising boardroom interest in cyber insurance cover has been sparked by a number of major data breaches; the prospect of bigger data breach penalties under new EU data protection laws, and a UK government awareness-raising campaign, an expert has said. Earlier this month Lloyds of London said that...

Five Steps To Data Breach Coverage For Card Issuer Liability by Roberta Anderson

21/04/2015 20:39
Target’s $19 million settlement with MasterCard[1] underscores very significant sources of potential exposure that often follow a data breach incident.  In the wake of any significant breach involving payment cards, such as the Target breach, retailors and other organizations that accept...

Will Cyberinsurance Cover Target’s $19 Million MasterCard Settlement? by Scott Godes

21/04/2015 07:48
Another credit card in the mail? If you’re reading this post, you’ve probably received a new credit or debit card in the mail, attached by rubber cement to a cover letter explaining that your card number could have been compromised – so you ended up with replacement cards. You might even have...

Cyber compliance does not always equal risk management, Deloitte report finds

18/04/2015 21:14
Cyber risk is a business issue. That was one of four key themes that characterized the state of cyber risk programs and issues facing the retail and distribution sector, according to a Deloitte report released this week.   The report, titled Cyber risk in retail: Protecting the...

Cyber crimes rise 23%: The must-know sectors for new business by Caitlin Bronson

18/04/2015 21:04
The frequency, sophistication and severity of data breaches is set to explode, according to a new industry report.  For the savvy insurance producer, that means an increased opportunity to pitch cyber security insurance to clients—provided you know which ones to target. Data breaches are a...
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