Article archive

Cyber coverage to grow fastest in retail and manufacturing industries

19/11/2017 10:49
The cyber insurance market has been forecast to reach almost $17 billion by 2023, growing over 20% CAGR between 2017-2023, according to P&S Market Research Global. The Banking Financial Services and Insurance (BFSI) sector has been the largest consumer of cyber insurance, as these companies are...

Fraudulent e-mail a ‘real big deal’ in cyber risk

17/11/2017 16:24
There is plenty of competition in the cyber insurance market but placing a cyber product suitable for a client “can be a challenge” because different insurers offer different products, the author of a recent report suggested Thursday. International Risk Management Institute announced Thursday the...

Enisa Report : Commonality of risk assessment language in cyber insurance

15/11/2017 13:40
Commonality of risk assessment language in cyber insurance While several risk assessment languages and frameworks exist in cyber-insurance, the industry has yet to take steps in the direction of harmonisation.    This report aims at further investigating this issue by identifying the...

Intensifying cyber-attacks prompt major expansion of Beazley’s insurance coverage and services

15/11/2017 07:32
New York, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Responding to a fast mutating cyber threat that has significantly raised the risks faced by small and mid-sized businesses, specialist insurer Beazley has redesigned its market-leading Beazley Breach Response (BBR) cyber policy.   Launched in 2009,...

Cyber influence on insurer ratings mostly gradual: Fitch

15/11/2017 07:29
The influence of cyber risk on insurer ratings is likely to be gradual, Fitch Ratings has reported. Cyber insurance represents a relatively small percentage of insurers’ business and insurers are taking a cautious approach to growing coverage, given the uncertainty about cyber claims...

Reported costs of cyberattacks are ‘tip of the iceberg’ – QBE

09/11/2017 07:50
The mass media only reports the tip of the iceberg when it comes to cyberattacks. The real cost of a cyber claim remains drastically underreported, according to Scott Pidduck, senior underwriter at QBE Insurance Group.   If a small to mid-sized company is exposed to a ransomware...

Protecting against #cyberfail: Small business and cyber insurance

02/11/2017 14:06
While cyberattacks and data breaches at Fortune 500 companies tend to dominate the headlines, America’s more than 28 million small businesses and their 56 million employees are increasingly vulnerable. Their exposure is much the same as that of larger companies, experts say, but many may...

2017 Survey of Cyber Insurance Market Trends

29/10/2017 15:12
October 2017 PartnerRe and Advisen are proud to release a white paper that features the results of a comprehensive survey of the evolution of the market for cyber insurance, both first- and third-party coverage, and the factors and trends impacting that evolution. The 14-page paper also highlights...

Beazley reports nine-fold rise in data breaches due to social engineering

24/10/2017 17:01
New York, 24 October 2017 Specialist insurer Beazley’s third quarter 2017 Breach Insights report released today 24 October reveals the rapid growth of social engineering* attacks – scams involving deception - as a cause of data breaches reported to the insurer...

Privacy By Design (PbD) and Transparency Requirements Under the General Data Protection Regulation (GDPR) as Fraud Prevention Tools by John.E. Giannakakis, Co-founder @The DPO Academy

22/10/2017 08:10
On 14th of April 2016 the European Parliament adopted the new General Data Privacy Regulation ("GDPR") The GDPR is a Regulation by which the European Commission intends to strengthen and unify data protection for individuals within the European Union (EU). It also addresses export of...
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