Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Michigan Utility Cyber-Ransom Attack Response Totals $2.4 Million
Nov 21 2016 // Officials say the Lansing Board of Water & Light in Michigan paid a $25,000 ransom to unlock its internal communications systems after they were disabled in the spring by a cyberattack. General manager Dick Peffley...
How Smart Building is Changing Construction
Nov 21 2016 // With “smart” building becoming the gold standard in today’s commercial construction world, builders, building owners, workers and insurers are dealing with new technologies and risks. These smart...
Cyber Sales Slow Down
Nov 21 2016 // For many years, cyber liability has been the hot opportunity for new sales. But that may be over, or at least the pace of sales seem to be slowing. The overall upward trend of organizations purchasing cyber insurance...
Fintech Firms Alibaba, Tencent Support China’s New Cyber Law Despite Foreign Opposition
Nov 18 2016 // China’s Alibaba Group Holding Ltd. and Tencent Holdings Ltd. rallied behind Beijing’s recently imposed cyber security law on Thursday, following criticism of it from overseas technology rivals. The...
The Right Cyber Coverage Can Protect a Business from Financial Ruin
Nov 16 2016 // A recent report on cybersecurity still shows many companies are unprepared for cyberattacks. The report, conducted by KPMG and British Telecom, reveals only 22 percent of companies have a comprehensive plan in place to...
QBE Expands Commercial Products to Include Cyber, Data Compromise Coverage
Nov 14 2016 // QBE North America, an operating division of global insurer QBE Insurance Group Limited, has launched CyberOne and Data Compromise, an expanded suite of products and services designed to help protect small to medium-sized...
Michigan Utility Paid $25,000 Ransom After Cyberattack
Nov 14 2016 // Officials say the Lansing Board of Water & Light in Michigan has paid a $25,000 ransom to unlock its internal communications systems after they were disabled in the spring by a cyberattack. General manager Dick Peffley...
China’s Cyber Security Law Could Hamper Foreign Business: P/C Industry Reps
Nov 9 2016 // China’s new wide-ranging cyber security law is drawing some serious apprehension from the U.S. property/casualty insurance industry. Trade associations and experts alike caution that it will create business obstacles...
Tesco Reveals $3M Was Stolen from 9,000 Customers in Recent Cyber Bank Theft
Nov 9 2016 // Retailer Tesco Plc’s banking arm said on Tuesday that 2.5 million pounds ($3 million) had been stolen from 9,000 customers over the weekend in what cyber experts said was the first mass hacking of accounts at a...
Markel International Taps Beazley’s Maher for U.S. Cyber Market in London
Nov 8 2016 // Specialist insurer Markel International has appointed Andrew Maher as senior underwriter, emerging risks, within its specialty and financial lines division. Maher’s focus will be on further development and expansion...
Ransomware Attack Freezes Indiana County’s Computers
Nov 8 2016 // A so-called ransomware attack has left police, fire and other government staff in a central Indiana county locked out of their computers. Madison County Commissioner Jeff Hardin tells The Herald Bulletin the county’s...
Tesco Bank’s Cyber Attack Investigated by UK’s National Crime Agency
Nov 8 2016 // Britain’s National Crime Agency (NCA) is leading a criminal inquiry into the theft of money from thousands of Tesco Bank accounts that the UK financial watchdog said was unprecedented. New cyber crime agency National...
Connecticut’s Business Risk Partners Hires Bizzoso and Landaverde
Nov 8 2016 // Business Risk Partners (BRP), a specialty underwriter and program administrator based in Windsor, Conn., hired Greg Bizzoso as an E&O product manager and team leader for miscellaneous professional liability (MPL) and...
Recent Cyber Attacks Reveal Dangers, Vulnerabilities of Internet of Things
Nov 8 2016 // Recent cyber attacks harnessing everyday devices such as cameras, video recorders, printers, routers and speakers are a wake-up call to the hidden dangers of the Internet of Things. The problem for the device makers,...
Aon Launches Cyber Risk Mgmt Solution in Response to EU Data Protection Law
Nov 8 2016 // Aon plc has launched a risk management solution designed to help organizations prepare for a new data protection law due to come into force on May 25, 2018. The law, known as the EU General Data Protection Regulation, or...
Cyber Criminals Steal Money from Nearly 20,000 Customers of UK’s Tesco Bank
Nov 7 2016 // Tesco Bank, the lending arm of the U.K.’s biggest grocer, said it suspended online transactions after about 20,000 customers had money fraudulently taken from their accounts. About 40,000 of the bank’s 136,000...
China Passes Controversial Cyber Security Law Despite Foreign Business Concerns
Nov 7 2016 // China has green-lit a sweeping and controversial law that may grant Beijing unprecedented access to foreign companies’ technology and hamstring their operations in the world’s second-largest economy. The Cyber...
Cyber, Risk Management & Claims for Accountants’ Liability
Nov 7 2016 // The environment for accountants’ professional liability (APL) insurance programs continues the trend of the past few years of both expansions in coverage and risk management with many programs. The market is also...
Willis Towers Watson Launches Cyber, Fidelity Coverage for Financial Institutions
Nov 4 2016 // Willis Towers Watson has launched CyFI, or “cyberinsurance and fidelity,” for financial institutions that addresses coverage gaps between cyberinsurance policies and fidelity bonds. As financial institutions...
Tennessee Man Gets 4-Year Sentence in Illinois for Cyberattacks
Nov 4 2016 // A Tennessee man has been sentenced to nearly four years in prison for a series of cyberattacks on businesses, universities and governments. Federal prosecutors in Chicago say 22-year-old Timothy Justen French of...
