Microsoft data breach: Cyber experts warn of knock-on claims effect

cyber protection

Microsoft’s data breach, which saw details of a reported 250 million customers made available online, could leave insureds facing knock-on phishing attempts and the tech giant facing a fine.

The breach was triggered by what Microsoft described as a change to a customer service request database’s network security group that “misconfigured security rules,” exposing the data.

The initial

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Insurers face margin crush unless premiums are hiked

Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.

Stephen Wallace, McLarens

Steven Wallace is managing director of EMEA for global claims services provider McLarens and is the current president of the Chartered Institute of Loss Adjusters.