CYBER – Page 8
-
NewsHoliday Inn hotel chain hit by cyber attack
Hotel chains are often targets for cyberattacks due to the data they hold, says Coalition’s head of insurance
-
NewsSmaller businesses becoming bigger targets for cyber criminals as claims rise – Coalition
The cyber insurer’s head of claims says small businesses ’often lack resources’
-
NewsLondon market has ‘real opportunity’ to be ‘an innovator’ for climate change transition risks
Brokers, insurers, regulators and markets all have a role to play in supporting the transition to net zero carbon emissions
-
NewsRussia’s sovereign internet could see cyber insurance implications – CyberCube
A sovereign Russian internet could lead to cybercriminal safe havens which could see implications for cyber insurance according to the latest report from CyberCube published today (12 September 2022).
-
NewsNot all cloud downtime losses covered by cyber errors and omissions insurance – Parametrix
The limited coverage is characterised by low coverage limits, long waiting periods, narrow coverage triggers, significant deductibles and long claims processes
-
NewsFitch Ratings confirms neutral outlook for global reinsurance sector
However, capacity is being squeezed in the property catastrophe market as reinsurers withdraw
-
IT InterviewJoshua Motta: The MGA hitting the UK with ‘reinvented’ cyber security insurance
It is now harder than ever to purchase cyber insurance in the UK, with capacity being pulled back, increasing exclusions and price increases – but Coalition aims to overhaul the market at a time when SMEs need it most
-
NewsNorth American cyber MGA begins trading in the UK
The firm will be distributing its products via UK brokers to the SME sector, according to a statement
-
AnalysisEmerging Bazarcall ransomware attacks reinforce cyber risk to SMEs
A more ’robust and joined up approach’ is needed to combat the risks UK businesses are facing from cyber attacks, such as those distributed by bogus call centres, says director
-
NewsUK local councils hit by 2.3 million cyber attacks so far in 2022 – Gallagher
Only 23% of councils currently hold a cyber-insurance policy despite a rise in cyber attacks
-
AnalysisBrokers should prioritise ‘critical’ cloud security following largest ever DDoS attack
The attack on a Google Cloud Armor customer was equivalent in scale to receiving all of the web’s daily requests to Wikipedia in just 10 seconds
-
NewsEcclesiastical enhances art and private client policy to cover cyber risks as standard
Art and private client business director reveals that policy changes are the result of broker feedback
-
AnalysisDynamic IP addresses cause ‘big challenge’ for underwriters using cyber risk rating reports
Improving the underwriting process for cyber insurance requires a ‘holistic view’ ahead of the ‘next big shift’, says Aviva’s head of cyber
-
NewsLloyd’s of London sets cyber policy exclusions for state-backed attacks
Managing agents must show that exclusion clauses have been legally reviewed
-
AnalysisCyber risk rating reports versus threat intelligence - what is ‘the best tool’ to analyse firms’ cyber security?
Industry leaders expose problems with cyber vulnerability assessment tools and discuss new ways to get ahead of cyber criminals
-
IT InterviewSoftware company exposes insurance industry as most vulnerable to phishing following simulated attacks
Hackers believe insurance companies are ’highly desirable’ phishing targets because of the data these firms hold, says lead security awareness advocate
-
NewsUK insurance pricing moderates in Q2 2022 – Marsh
Pricing was most challenging for those with clients dealing with natural catastrophe exposures, for example
-
NewsRate rises of 300% have ‘not been uncommon’ in London’s cyber market
Despite ‘no material change in exposure’, insurers in the London market are wary of cyber risks and are upping premiums by 100% on average, as well as reducing capacity, says broker’s head of cyber
-
NewsGeopolitical strife impacting shift in ransomware attacks – SonicWall
The cyber security firm discovered 59,259 cases of never before seen malware in March 2022 alone
-
AnalysisInsurers must be alert to the threat of physical damage from cyber attacks
Recent cyber attacks on a number of Iranian steel plants evidence the dangers these events can pose to physical infrastructure - this should serve as a warning to insurers
