April 13, 2017
Evan Freely has been insuring global risks for years — through the 2008 market meltdown, the 2002 crisis in Argentina, and the 1993 downturn in Venezuela. Yet turmoil now seems to be coming at a more rapid pace than he’s …
April 12, 2017
Cyber security breaches erode companies’ share prices permanently, with financials the worst hit, a study issued by IT consultant CGI and Oxford Economics has found. Severe cyber security breaches, such as those having legal or regulatory consequences, involve the loss …
April 5, 2017
A large-scale cyber attack from a group targeting organizations in Japan, the United States, Sweden and many other European countries through IT services providers has been uncovered, the Swedish computer security watchdog said on Wednesday. The cyber attack, uncovered through …
April 4, 2017
Cyber security firm Kaspersky Lab on Monday said it had obtained digital evidence that bolsters suspicions by some researchers that North Korea was involved in last year’s $81 million cyber heist of the Bangladesh central bank’s account at the Federal …
March 30, 2017
The heist of $81 million from the Bangladesh central bank’s account at the New York Federal Reserve last year was “state-sponsored,” an FBI officer in the Philippines, who has been involved in the investigations, said on Wednesday. Lamont Siller, the …
March 13, 2017
Britain’s 6 billion pounds ($7.3 billion) terrorism reinsurance fund hopes to extend its cover to include cyber attacks on property, chief executive Julian Enoizi said. Pool Re, set up in 1993, acts as a backstop to insurers paying out claims …
March 6, 2017
CFC Underwriting, the London-based specialist lines underwriting agency, announced the launch of a new cyber incident response application. The app allows policyholders to notify a claim with a click of a button and receive specialist support from CFC’s global cyber …
March 3, 2017
Despite the rising profile of cyber risks, buyers have failed to widely embrace cyber coverage. At the same time, insurers generally have remained cautious about writing the coverage on a large scale basis. A recent report published by accounting and …
March 3, 2017
Australia said on Friday it will offer the world’s first university course to train intelligence analysts to fight cyber crime, prompted by innovative methods of money transfer among organized crime and militant groups. The measure expands on Prime Minister Malcolm …
March 1, 2017
As the insurance industry has closely followed developments regarding The New York State Department of Financial Services’ (DFS) cybersecurity regulation, concerns remain in terms of how the final regulation, set to go into effect March 1, may impact mid-sized companies …