cyber risks News

Industry Faces Cyber Risks in Shift from Tangible to Intangible Property

If Mike McGavick is right, the business world will soon be carrying the equivalent of a massive data base in a cell phone. Technology has moved so rapidly that not only the insurance industry, but also business in general, is …

Gibaltar Group Adds Baker as VP of Information Security

The Gibraltar Group, a risk and insurance advisory firm based in Lubbock, Texas, announced it has appointed Dr. Bruce Baker as vice president of Information Security, and expanded its risk and loss management RiskIMPACT process to include NetworkGUARD. Cyber crime …

R K Harrison Hires Rees to Lead New Cyber Risk Practice

Employee-owned, London-based insurance broker R K Harrison announced that David Rees has joined the firm to “head a dedicated cyber practice within its specialist casualty team, responding to the increasingly sophisticated demands for coverage in this space.” Rees joins R …

Hartford Steam Boiler, NetDiligence Offer Data Breach Portal

The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, in collaboration with NetDiligence, has put in place online risk management tools to help its insured businesses and organizations recover when personal information is lost or stolen. …

Willis Warns Directors D&O Policies May Not Cover Some Cyber Risks

Willis Group Holdings latest Executive Risks Boardroom Guide warns that, as the online universe expands it has “introduced new financial risks that may not be covered under general and professional liability insurance, including standard directors’ and officers’ (D&O) policies. “As …

Bipartisan Senate Bill Addresses Cyber Threats

Compromise legislation introduced in the U.S. Senate on Thursday would bolster cyber threat assessment and permit the government to share information with American business under certain conditions, a step aimed at better protecting them from attacks. The bill, which is …

Hiscox Launches New Portfolio of Technology Products in U.S.

Hiscox has launched a new suite of technology products to address the growing technology, privacy and cyber risks facing businesses globally. Hiscox coverage includes breach of contract and intellectual property exposures, which representing over 80 percent of all technology claims …

Lloyd’s Highlights Retailers Need for Cyber Fraud Coverage

An article on the Lloyd’s of London web site notes that while millions of people have been out an about shopping this holiday season, “an increasing number are choosing to shop from the comfort of their homes – and offices …

Bulk of U.S. Data Theft Linked to Few Chinese Hacker Teams

As few as 12 different Chinese groups, largely backed or directed by the government there, do the bulk of the China-based cyberattacks stealing critical data from U.S. companies and government agencies, according to U.S. cybersecurity analysts and experts. The aggressive, …

Black Friday, Cyber Monday Bring Out the Risk Grinch

The rush is the risk on Black Friday and Cyber Monday in the eyes of a retail insurance and risk expert who previously worked in retail for 22 years. Kelly Brown of Zurich North America doesn’t go so far as …