Cyber
Cyber risk rising in Asia
Cyber crime is on the rise in Asia, with small businesses particularly at risk, according to a recent Marsh report.
Zurich, CNA and Liberty International join NCC cyber group
Information assurance firm NCC Group has launched a forum to work towards establishing a minimum security standard for the uptake of cyber insurance.
European Parliament wants EU-wide sanctions for cyber crime
Cyber attacks on IT systems will face criminal-law sanctions, according to a report by the Civil Liberties, Justice and Home Affairs Committee of the European Parliament released today.
Boards need to wake up to cyber threats
Company directors must wake up to cyber threats or risk litigation from all sides, according to Francis Kean of Willis Group Holdings.
Boards urged to wake up to cyber threats and liabilities
Company directors must wake up to cyber threats or they risk litigation from all sides, according to Willis.
Cyber liability poll results
Will proposed privacy regulation increase the need for cyber liability insurance?
Biometrics organisation wants to found Europe-wide network
The "European Association for Biometrics” wants to found a Europe-wide network to bring together industry, regulators and user groups.
EC data privacy proposals costly for EU businesses
Proposals for new privacy regulations for companies handling EU citizens’ data may increase demand for cyber liability solutions, according to Lockton.
Axa to use BAE systems fraud detector
Global insurer Axa has signed up to use BAE Systems claims fraud prevention service which it says will increase its efficiency and prevent honest customers from paying for fraudulent claims.
Firms underestimate cyber risk, according to Allianz survey
Economic risks, business interruption and destructive natural catastrophes are among the biggest risks to companies in 2012, according to a study conducted by Alianz Global Corporate & Specialty.
EC data protection regulations could generate opportunities for cyber insurers
Draft regulations from the European Commission on data protection will impose significant demands on businesses and could generate new opportunities for cyber insurers, according to law firm DAC Beachcroft.
Determining liability for cyberbullying
The rise of the internet has opened the door to a new form of bullying and US insurers have become wary of the threat this poses to insurance. Lauren Jankowski explains that European insurers would do well to be wary of this threat as across the pond…
Meehan poised to sign Towergate as Bluefin backs cyber crime product
Former Axa director Paul Meehan has secured the backing of broker group Bluefin to push his just-launched Cyber Protect products and expects to sign up Towergate within the next few weeks to gain access to a total of 3500 brokers.
EU & US conduct tests for cyber attacks in 'Cyber Atlantic 2011'
The first test of trans-Atlantic responses to cyber incidents, including cyber attacks, has taken place in Brussels.
Social media damage is high on risk managers’ list of concerns
Social Media and the risk it poses to reputation risk and confidential information is a matter of great concern for European businesses, according to study by the Federation of European Risk Management in conjunction with the Institute of Risk Management.
Insurance Insight weekly update live - 21 October
Insurance Insight’s weekly update is live with an article on how brokers need to be up to date on the cyber risks their customers are facing; and a feature of how Lloyd’s of London has spread its each across Europe.
Cyber risks in the modern business
Technology is evolving every day and as Iain Ainslie explains if brokers want to offer their customer the best cover possibly they need to be aware of all risks and the specialist policies available to help them.
Cyber liability: Getting hacked off
Back in 1983, when Hollywood produced a film about a young boy inadvertently hacking into military systems, the possibility of such an occurrence seemed the stuff of fantasy and doom-mongers.
BIS 2011: Industry warned over reliance on internet for information
“It is a danger to rely on publicly available information” the insurance industry has been warned by Ashwin Mistry, chairman of Brokerbility.
Mid-range UK technology companies feel exposed to cyber crime
More than a quarter (26%) of Britain’s mid-size technology companies feel they are highly exposed to the risk presented by cyber crime, according to new research commissioned by Zurich.
Leisure industry irresistible target for cyber pirates
The vast quantities of personal and identifiable information collected by the leisure and hospitality industry has made it a chief target of cyber attacks, according to global insurance broker Willis Group Holdings.
View from the top: The pace of change
Twenty years ago the world wide web was in its infancy. E-mail, if it was used in the insurance industry, was limited and contained within organisations. Letters and faxes dominated. We may have had second generation mobile phones but the first UK text…
Cyber risks - Liability update: Privacy policed
Public and political awareness of cyber risks is on the rise as high-profile cases hit the headlines. Patrick Hill and Hans Allnutt review the effectiveness of existing cover options and detail unconventional developments.
Airmic 2011: Insurance market for cyber risks needs to come of age
In 2010 it is estimated that hostile cyber attacks on companies accounted for nearly one third of all UK data breaches – up from around 22% the year before – and these incidents are becoming increasingly expensive.