August 3, 2017
The cyber attack that crippled Ukraine businesses and spread worldwide to shut down shipping ports, factories and corporate offices has taken a costly toll on the results of major U.S. and European companies in the latest quarter, with more to …
August 2, 2017
XL Catlin announced it has launched its Cyber and Data Protection insurance policy in Asia Pacific. With cyber risk ranking in the top 10 in today’s emerging risks, the new policy is designed to protect businesses from the increasing exposures …
July 26, 2017
UniCredit SpA said hackers accessed about 400,000 client bank accounts in Italy, taking biographical and loan data in one of the biggest breaches in Europe to date. The breaches occurred in September and October of 2016 and June to July …
July 21, 2017
Dr. Lidiia Podkopaieva was about to click “send” on an order of new surgical instruments when her computer monitor suddenly went dark. She speed-dialed the clinic’s technician but didn’t even have time to tell him what was wrong. “We’re under …
July 17, 2017
A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report on Monday. …
July 12, 2017
The European Union’s looming General Data Protection Regulation (GDPR) will require mandatory notification of serious data breaches and potentially massive fines for failure to comply. That’s the bad news. The good news is that the GDPR, to be rolled out …
July 11, 2017
Despite the deterioration many reinsurers saw in the first quarter, mid-year renewals continued their downward pricing trajectory, according to Willis Re in a recent report. Indeed, underlying loss and expense ratios for many reinsurers are showing a worrying trend of …
July 7, 2017
Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …
June 30, 2017
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry. About 90 percent of …
June 28, 2017
Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC Beachcroft. As businesses increasingly become the target …