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Cyber insurance: An emerging market with growth opportunities by Tom Allen

16/04/2015 07:13

Data protection insurance—more often referred to generically as cyber insurance—is responding to some of the most pressing and complex threats faced by organizations. While the landscape continues to evolve in this emerging market there are opportunities for those that adhere to the fundamental...

User mistakes aid most cyber attacks, studies show

16/04/2015 07:10

(Reuters) — When a cyber security breach hits the news, those most closely involved often have incentive to play up the sophistication of the attack. If hackers are portrayed as well-funded geniuses, victims look less vulnerable, security firms can flog their products and services, and government...

Companies see personal data breach as biggest threat by Elise Viebeck

12/04/2015 19:49

The exposure of personal information is the most frightening cybersecurity threat to private companies, according to a survey released this week. Executives and corporate counsel in 15 industrial sectors said they are most concerned about a personal data breach (63 percent),...

Cyber-liability insurance: Understanding what you have and what you may need by Andrew Lustigman & Jeremy M. King

10/04/2015 20:10

Cyber-liability coverage cannot be addressed in a one-size-fits-all fashion In the growing technologically interdependent marketplace, any company that stores either its own data or data from customers and business partners in an electronic format is at risk of data breach liability arising from...

Why is there a lack of capacity in the cyber market? by Jack Elliott-Frey

09/04/2015 18:48

At the moment, we would agree with AIG CEO Peter Hancock’s recent statement that cyber capacity is still lacking, due to the fact that there is a serious lack of concern across the majority of businesses when it comes to the threat posed by cyber. As a broker operating across the US, Europe and...

Insurance Chief: Cyber Attacks are most serious threat to UK Business by Jermaine Haughton

09/04/2015 08:05

Britain’s largest insurer has urged bosses to put safeguards against cyber attacks at the top of their priority lists, after a Russian hacker reportedly stole £650 million from banks around the world over the past two years. Ranked as one of the largest cybercrimes ever recorded, the scam...

Be aware of risks cyber attacks could have on your business, urges insurance expert by Darren Slade

07/04/2015 12:59

BUSINESSES need to become more aware of cyber security, according to an insurance specialist. Poole-based Alan & Thomas says any business, large or small, that uses computers is at risk of a cyber attack. Stewart King, chief operations officer, said: “As businesses become more reliant on...

IBM uncovers sophisticated bank transfer cyber scam

05/04/2015 07:57

(Reuters) — IBM has uncovered a sophisticated fraud scheme run by a well-funded Eastern European gang of cyber criminals that uses a combination of phishing, malware and phone calls that the technology company says has netted more than $1 million from large and medium-sized U.S. companies. The...

30% Of Companies Would Pay Ransoms To Cybercriminals by Sara Peters

02/04/2015 23:09

Factor in under-reporting and the growing sophistication of ransomware -- like PacMan's social engineering scheme -- and the number might be higher. If you're an organization that's been stung by ransomware before, you're more likely to pay up again, and you probably won't tell a soul,...

Analyzing Cyber Risk Coverage by Steve Raptis

02/04/2015 13:23

Unlike other types of insurance, there is no standard form on which the insurance industry as a whole underwrites cyber coverage. By: Steve Raptis | March 13, 2015 Many companies are now taking a close look at the protections provided by cyber risk insurance policies — some for the first...

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