Article archive

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...

If cars don't need drivers, do drivers need insurance? by Nova Safo

02/04/2015 10:04
As driverless cars go from science fiction to fact, the multi-billion dollar auto-insurance industry is trying to figure out how not to be run off the road. Today, 90 percent of car crashes in the United States are due to driver error. But that percentage could plummet as  autonomous and...

A Primer on Cyber Insurance by Kent McDill

02/04/2015 10:00
Legal firms, health care companies and financial services providers have been major purchasers of cyber insurance. All public and private businesses put themselves and their bottom line at risk for any number of possible negative events, and they all buy insurance to protect themselves from claims...

Cyber Essentials: Practicalities for brokers by Jack Elliott Frey

02/04/2015 09:57
The past month has been a busy one for insurance brokers operating in the cyber risk class, due to the launch of a joint initiative by the Government and the insurance sector to help cement the UK's position as the global leader in cyber security insurance. This new initiative builds on the 10...

Don’t buy insurance after the fire: Protecting your business against DDoS attacks by Terrence Gareau

29/03/2015 21:34
The threat of cyber-attacks has been brought to the attention of the public with the activity of cyber-criminals such as the Lizard Squad, which has used DDoS attacks to bring down the networks of corporate giants such as: Sony Playstation, Microsoft Xbox and Malaysian Airlines in recent...

Looking at Cyber Insurance From Every Angle by Safety National

28/03/2015 07:55
At the 2015 Advisen Casualty Insights conference, a panel discussed cyber insurance in the casualty insurance industry.  The panel consisted of Joe Cellura from Allied World, Ron Beiderman from ISO, Jerry Gallivan from Travelers, Josh Gold from the law firm Anderson Kill, and Michael Tanenbaum...
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