Cyber Security & Data Privacy
Articles
Deloitte: Overcoming challenges to cyber insurance growth
September 2020 featured report: Cyber insurance has been held up as an area of innovation and major growth, but the reality hasn’t lived up to the hype, says Overcoming ...
Hiscox: Cyber Readiness Report 2020
July 2020 featured report: Cyber risk is one of the biggest issues facing businesses these days. One finding of the 2020 Hiscox report into cyber risk readiness is that there has ...
McKinsey: Cybersecurity – Linchpin of the digital enterprise
Executive summary Two consistent and related themes in enterprise technology have emerged in recent years, both involving rapid and dramatic change. One is the rise of the ...
CISCO: The evolution of industrial cybersecurity and cyber risk
Article Synopsis : Businesses face increasing cybersecurity threats and breaches, but organisations have begun to realise that security must be part of the broader cyber risk ...
FMA: Strategic risk outlook 2019
Article Synopsis : New Zealand’s regulator, the Financial Markets Authority, has issued its strategic risk outlook for 2019. The report says that general insurance penetration ...
Capgemini: Reinventing cybersecurity with artificial intelligence
Article Synopsis : Artificial intelligence (AI) is being applied to all kinds of services and processes in order to improve productivity, sales or customer experience. An area of...
ORF: Towards a Cyber-Security Roadmap for Digital Payments- Best Practices and Recommendations
Article Synopsis : The Indian government’s desire to create a US $1-trillion digital economy by 2025 is going to take some doing. To be fair, India processed some 20.7 billion ...
Capgemini & Efma: World Insurance Report 2019
Article Synopsis : Policyholders are ever more concerned that their insurance cover isn’t enough to protect against emerging risks, such as those posed by cyber attack or ...
Cyber insurance for enterprises: Deloitte
Article Synopsis : The growing number of cyber attacks experienced against organisations has rendered cyber insurance an imperative, according to this Deloitte paper. Benefits ...
The state of insurance fraud technology: SAS
Article Synopsis : Tech budgets at insurers are on the rise, but suspected fraud has also increased for the third consecutive time in six years, says The State of Insurance Fraud...
Data privacy: Growing expectations – and risk – for financial institutions
Article Synopsis : Governments are talking tough on consumers’ data privacy and financial institutions (FIs) should not wait for the final regs to know how to behave but should...
Arceo.ai Launches to provide Insurance Carriers Cyber Resilience Solutions
Arceo.ai enables insurance carriers to automate and enhance their cyber insurance solutions, while simultaneously increasing the security of their enterprise clients through ...
Cyber Predictions in 2019
Article Synopsis : One of the biggest growth areas in the tech sector in 2018 was cyber. Not only security, but the number of attacks, including many high profile ones. 2018 was ...
Cybersecurity and Data Privacy 2019 OUTLOOK
Article Synopsis : Some of the biggest and most complex legal questions and business risks faced by multinationals in 2018 concerned cybersecurity and data privacy. That is not a...
Cyber security – Implications for the insurance industry
Hybrid Cyber Insurance ticks all the InsurTech boxes
Cyber crime is changing insurers’ approach to risk management The thing about cyber insurance is that it’s a new and totally unpredictable risk. And it’s a risk that cant...
Cyber insurance: An opportunity to lead in a growing market
Cyber attacks are on the rise. Hackers are increasingly looking to take advantage of security vulnerabilities to steal valuable customer data, including financial details and ...
XL Catlin and RedSeal Launch Cyber Insurance Industry’s First Dynamic Measure of Resilience to Gauge Risk, Improve Cybersecurity and Insu...
XL Catlin and RedSeal (network modeling and risk scoring platform) launched cyber insurance industry’s first dynamic measure of resilience which will help measure risk,...
Chubb Boosts Cyber Risk Underwriting with CyberCube Analytics Software
Chubb is partnering with a San-Francisco based cyber risk analytics vendor called CyberCube to boost its Cyber Risk Underwriting.
Cisco, Apple, Aon, Allianz introduce a first in cyber risk management
Allianz, Cisco, Apple and Aon have together launched a cyber risk management solution for organizations to better manage and protect themselves from cyber risk associated wit...
Cyber Risks That Hide In Plain Sight
Article Synopsis : Predictions for the aggregate global cost of cybercrime vary, but the numbers are huge. Correspondingly, the amounts companies are expected to spend to protect...
Cyber Risk Management – Response and Recovery
Article Synopsis : ‘Cyber Risk Management, Response and Recovery’ from Marsh & McLennan, in partnership with WomenCorporateDirectors (WCD), presents the most up-to-date ...
When the going gets tough, the tough get going.
Article Synopsis : Boards of Directors are increasingly requesting from senior management a coherent articulation of the institution’s cyber risk appetite linked to business ...
Large-Scale Cyber-Attacks on the Financial System
Article Synopsis : The complexity of the financial services industry, interconnectedness of individual players, and introduction of new and innovative technologies heighten the ...
Leveraging GDPR to Become a Trusted Data Steward
Article Synopsis : Data-driven transformation is hitting a previously hidden obstacle: a growing fear of data misuse. The EUs response to these concerns is embodied in the new ...
Taming Cyber
Article Synopsis : Identifying and quantifying Cyber risk is different from quantifying other “financial” risks. This report from Oliver Wyman shares new methods for ...
Fortifying Insurers Defences in Era of Cyberrisk – BCG Whitepaper
Article Synopsis : Managing cyberrisk is crucial for all large corporations worldwide, particularly so for insurers. Insurers must treat cyberrisk in much the same way that ...
Staying on the right side of consumer privacy line – KPMG Report
Article Synopsis : Companies know more about their customers than ever before. As digital technologies proliferate, the line dividing ‘my’ from ‘our’ data...
Cybersecurity in the Insurance Call Center: They Can’t Hack What You Don’t Hold
We all know that the U.S. has a number of different data privacy regulations, like HIPPA and the Social Security Number Protection Act. But, did you know that there is no ...
Cyber Insurance Recent Advances, Good Practices & Challenges-ENISA
Article Synopsis : Cyber insurance was created to address risks not reasonably mitigated by security measures. In comparison with other insurance sectors, cyber insurance appears...
Digi.me – Enabling users to share their own data with businesses
With the increasing proliferation of data generated from connected devices, several startups are scrambling to develop platforms that allow consumers to access, manage, and s...
Zuroovi – Cyber Insurance for small businesses
Zuroovi is one of the first platforms to focus on a relatively new niche within insurtech – cyber insurance. Specifically, Zuroovi enables small businesses to obtain cy...
Cyber Crime, Liability Insurance & Cyber Security-SnoopWall & Zon Re
Article Synopsis : According to the World Bank cyber crime will outpace drug crime reaching $600B in damages this year. Accordingly the Cyber Liability Insurance market is ...
Risk & opportunity in increasingly digital world – Tapestry Networks
Article Synopsis : While digital transformation is happening slower in the insurance sector than in others, the changes, as they come, are no less profound. Where boards used to ...
Health Benefits of Vitamin C – BookDoc
Nowadays, with everyone being increasingly concerned with their health, many have started consuming Vitamin C as it is believed to boost our immunity.
Hiscox posts £192m loss in 2020
Provider says results were impacted by the pandemic, as COR worsened to 114.5% while GWP remained flat.
Profit and turnover up for Admiral Group
Profit before tax was driven by strong reserve releases and lower claims frequency.
Aviva’s Covid-19 BI claims exposure down to broker wordings
GI CEO Colm Holmes says provider has taken a proactive approach to paying claims as he discusses how Aviva was impacted by the BI test case and comments on its
4 Threats to Data That Agencies Need to Know About –...
Many businesses, including insurance agencies, are at risk of cyber attacks which can compromise sensitive data — here are the threats you should be most aware of.
Insurance Age Digital Edition: March: Technology at hand
The latest issue of Insurance Age is digital only due to the most recent lockdown.
News analysis: Are we heading for an underinsurance crisis?
Difficult conversations on horizon for brokers as SMEs seek to cut costs amid economic uncertainty due to business squeeze from Covid, Brexit and harder market
Masojada: Hiscox regrets “anguish and uncertainty&#...
CEO discusses the need for the insurer to rebuild its brand and reputation as a result of the BI disagreement as insurer posts £192.4m loss for 2020.
Google launches cyber insurance cover
The tech superfirm has teamed up with Allianz and Munich Re to offer ‘specialised and enhanced cyber insurance designed exclusively for Google Cloud customers’
Two emerging trends in D&O liability
Cyber claims morphing into directors’ and officers’ liability and the increased sophistication of the plaintiff bar in Canada are two emerging trends in D&O lines, HDI Global Sp...
Google Cloud, Allianz and Munich Re partner on cyber insu...
The Risk Protection Program is designed to reduce cloud security risk and and offer cyber insurance designed for Google Cloud customers.
Google to Offer Cyber Insurance From Allianz, Munich Re t...
Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major
Blog: Improving Cyber Insurance Practice Should Be a Comp...
Although the DFS' Cyber Insurance Risk Framework applies primarily to New
York-regulated property and casualty insurers that write cyber insurance, the ...
ABI urges UK businesses to buy cyber cover as risk percep...
Huw Evans, director general of the Association of British Insurers (ABI), has urged UK business to ensure they are adequately insured against cyber risk.
Blog: how brokers can protect themselves from cyber threats
With cyber attacks growing in frequency, alongside stricter data regulation, Alex Haynes of CDL explains how brokers can ensure they don’t become victims of
NYDFS Publishes Cyber Insurance Risk Framework, Warns of ...
The New York Department of Financial Services (DFS) has issued a Cyber
Insurance Risk Framework (the “Framework”) of best practices for carriers. The
first of ...
Using Insurance Data to Better Tackle Ransomware – ...
Since the early 2000s, many companies have purchased cyber insurance to
protect them when data is stolen, networks are breached, regulatory agencies
levy ...
RSA UK COR deteriorates to 101.8%
The insurer said the UK figures were “heavily impacted” by Covid-19 and, excluding the pandemic the UK COR was 95.8%, as CEO Hester reflects on group
Structuring international programmes – harnessing digital...
Digital capabilities have transformed the implementation and management of international insurance programmes, providing corporations with greater transparency and access to mor...
Sanlam Limited (SLM : JSE) Stock Price & News –...
It has a stake in micro-insurance specialists, UK-based Micro-Ensure Holdings
Limited, which has a footprint across Africa and India servicing more than 10 ...
France to inject funding into cyberdefense systems
The move was announced by President Emmanuel Macron in February following multiple cyberattacks on hospitals and other organisations
Alt Lending Week Ending 26th February 2021 – Daily ...
Bitcoin Plunges $10,000. Writing about lending encompasses the whole world of risk taking with other peoples money. After all what does a bank do or supposed to do? Take in ...
Peru unveils cybersecurity rules for financial services s...
... Retail Banking Microfinance Regulator Pensions Microinsurance Surety
Security Non-banking financial institutions Reinsurance Insurance Insurtech
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Would your client actually buy a pandemic risk product?
Even if insurance products were available for pandemic risk specifically, several businesses say they wouldn’t anticipate becoming more dependent on risk financing or insurance ...
What is Cyber Liability Insurance? You’re Clients A...
What is Cyber Liability Insurance? This is the most common search phrase your
clients will use online and I'd bet a question you've been asked …
Cyber Insurance – Lexology
Loss of data. Cyber insurance typically provides third-party cover in respect of
data breach. This will include cover for any liability payments that have to be
made to ...
ERS posts surge in profit for 2020
COR also improved, while GWP was down on 2019 after a number of products lines were "materially affected" by Covid-19.
Ex-Aviva boss Mark Wilson to lead insurtech venture after...
Motor insurtech Abacai launches with backing from Complete Cover owner Sun Capital and sees Wilson take charge as CEO alongside a leadership team including two
FCA finalises guidance on vulnerable customers
The regulator highlights that 27.7m UK adults could be categorised as vulnerable as it promises to hold firms to account for failures.
Aston Lark buys Kent-based Sennocke
Deal includes two niche brands - Self-Build Zone and Build-Zone - as well as technical surveying and risk management business Build-Zone Survey Services.
Blog: The light at the end of the tunnel?
Stuart Kilpatrick, of Burns & Wilcox, a HW Kaufman company, considers how the tough market could evolve in a post-Covid world.
EC proposal for financial sector cyber security rules too...
FCA issues new guidance for the treatment of vulnerable c...
The regulator has put forward this guidance to generate consistency in the treatment of vulnerable customers
Volante Global launches cyber ransomware solution
International managing general agent platform Volante Global has announced the launch of a new cyber ransomware solution designed to combine ransomware
GRP snaps up Ipswich-based broker
Five Insurance Brokers specialises in the construction, manufacturing and process, haulage, motor trade and warehousing sectors and will become an appointed
Insurers Plan to Continue Hiking Liability Rates for Arch...
Most professional liability insurers covering architects and engineers (A/E) achieved varied premium growth last year as the U.S. construction industry
MCE commits to AI underwriting
The specialist motorcycle broker is using artificial intelligence to provide precision pricing and bundle quote, policy and claims data.
Introducing Blink by Chubb
Blink insurance offerings can be an integrated experience using Blink APIs, so insurance products can be managed digitally, with the ability for consumers to select coverage opt...
What effect has the rising number of cyberattacks had on ...
What effect has the rising number of cyberattacks had on cybersecurity insurance
rates and coverage? February 18, 2021. Todd Shryock ...
Zurich takes stake in MyPolicy
The provider has also joined the panel of the analytics and telematics specialist.
Broker wordings behind Allianz’s Covid-19 BI claims...
UK CEO Jon Dye discusses the business interruption test case and why communication with brokers is critical, after Allianz revealed its total impact of Covid-19
NYDFS Issues Best Practices for Cyber Insurance Risk Mana...
Although not technically a part of the seven-pronged Cyber Insurance Risk
Framework, the NYDFS guidance includes a specific recommendation against ...
Canada’s hardest-hit commercial lines — and a reason for ...
Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half o...
French health insurer suffers cyber attack
The latest count of cybercrime further highlights the vulnerability of healthcare IT infrastructure
LV confirms 300 redundancies following L&G takeover
CEO Steve Treloar explains the consultation process is now complete after the provider last year put up to 600 roles from across LV and L&G at risk as part of a
Allianz nears £4bn in GWP
Provider says total impact of Covid-19 BI claims in 2020 was £175m and details it has to date paid 78% of valid SME claims.
Lloyd’s warns syndicates of ‘increasingly hig...
As we roll out hundreds of billions of additional IoT devices, it will become even ...
It recommended that syndicates monitor product coverage carefully across ...
Internet of Things Devices Increase Risk of Cyber Attacks...
Internet of Things (IoT) devices are increasing the risk of cyber attacks to industrial and manufacturing businesses, according to a report published by
New York Regulator Issues Cyber Insurance Risk Framework ...
On February 4, the New York Department of Financial Services (“NYDFS”)
released Insurance Circular Letter No. 2 (2021), a Cyber Insurance Risk
Framework ...
How brokers can help personal cyber go mainstream
Although it will take some time, selling personal cyber insurance will come as naturally to brokers as selling home and auto insurance to customers, an expert predicts. Until th...
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