Article archive

The cyber liability insurance market rises

20/09/2017 06:01
As reports about cyber risk in the press and board agendas abound, companies are looking to manage that risk. Even with mitigation, risk always remains.   A cyber insurance program covering those losses is increasingly seen as part of the solution.   Insurance...

Underwriting cyber risk for multinational companies with the Europe's GDPR

14/09/2017 11:37
How Europe's General Data Protection Regulation (GDPR) impacts cyber insurance.   Beginning on May 25, 2018, the European General Data Protection Regulation (GDPR) will go into effect. This particular law will have sweeping impacts across the supply chain, which will include the...

Avoiding the GDPR iceberg - data protection in the shipping industry

13/09/2017 10:47
Businesses now have less than nine months to prepare for the EU General Data Protection Regulation (GDPR), which overhauls a data protection regime dating from 1995. The GDPR becomes effective across the European Economic Area (EEA), including in the UK, from 25 May 2018. It will also apply to a...

Hospitality: Unprepared for GDPR

11/09/2017 11:22
The hotel industry is considered one of the most vulnerable to data threats. According to Verizon’s 2016 Data Breach Investigations Report 1, the hotel industry accounts for one of the highest number of breaches in any sector and has the highest volume, when it comes to lost cards following a...

Data breach exposes about 4 million Time Warner customer records

11/09/2017 09:54
Time Warner Cable, now known as Spectrum, became the latest company to realize exactly how vulnerable its data is when a third-party vendor entrusted with its safety made an error exposing millions of records. Kromtech Security Center researchers discovered late last week that about four million...

Alleged Equifax hackers demand $2.6 million Bitcoin ransom — or else...

11/09/2017 09:52
By now you know that credit reporting agency Equifax was hacked, and with it, potentially 143 million Americans social security numbers, birth dates, and then some. Unless, according to the criminals who supposedly hacked them, Equifax pays up.  That's according to an onion site,...

Equifax's Insurance Is Likely Inadequate for Breach

11/09/2017 09:46
Equifax Inc.’s insurance against cyber breaches is likely inadequate to cover the credit-reporting company’s costs tied to one of the biggest hacks in history, according to people familiar with the coverage. The company holds a policy that would probably cover about $100 million to $150 million,...

GDPR: will it be the global standard for data protection?

07/09/2017 09:08
The EU’s landmark General Data Protection Regulation (GDPR) has the potential to set a new gold standard for data protection – considerably improving protections for consumers in the EU and internationally. With only 10 months to go before the GDPR comes into force, our advocacy experts consider...

Survey shows confidence in cyber insurance

01/09/2017 09:28
In the wake of WannaCry and other ransomware attacks, risk professionals view cyber extortion as the leading first-party exposure for their organisation. That is one of the findings of the 2017 Rims Cyber Survey, which also showed that there is continuing confidence in stand-alone cyber insurance...

83% of polled organizations had standalone cyber insurance policies: 2017 RIMS Cyber Survey

25/08/2017 15:29
Organizations with standalone cyber insurance policies increased three points from 2016 to 83%, according to the 2017 RIMS Cyber Survey. “Risk professionals’ continued to show confidence in standalone cyber insurance policies as the number of practitioners who purchased the coverage increased...
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