Article archive

The Betterley Report:The annual volume of cyber risk premiums is around $3.25 billion, up about 18% from last year

09/10/2016 19:16
Annual premium volume information about the U.S. cyber-risk market is hard to come by, but in reviewing the market, we have concluded that the annual gross written premium may be as much as $3.25 billion (up from $2.75 billion in last year’s report).    The industry is divided by size...

Cyber insurance – a necessary cost of modern business

09/10/2016 18:59
The Target hack was a consciousness-raising incident for C-level execs, making them realize that the total costs of an intrusion and data theft are much greater than a damaged reputation and associated PR cleanup. The incident cost several execs, including the CEO, their jobs and the company...

Cybersecurity Preparedness and Response: A Middle Market Risk Management Perspective

09/10/2016 09:24
What is your company’s biggest vulnerability in terms of cyber risk?  How well prepared do you feel your company is to respond to a cyber-related crisis?  Does your company have a formal cyber incident response plan?  Does your company purchase standalone cyber liability...

GDPR: Forced breach reporting will have bigger impact than fines

06/10/2016 10:38
Risk of losing customers will change attitudes faster than huge fines   The mandatory data breach reporting requirements in the General Data Protection Regulation (GDPR) are more likely to make business leaders take cyber security seriously than the risk of huge fines. This was the view...

Cyberinsurance, a Lifesaver or a Headache? Why Not Both?

29/09/2016 06:08
An ALM CyberSecure panel explored the perils and possibilities that result from current cyberinsurance policies. Cybersecurity is a top concern for all organizations, and many are turning to cyberinsurance to lessen the blow of a data breach. Yet as with the complexities of a breach—from the who’s...

Research paper: Examining the costs and causes of cyber incidents

26/09/2016 05:33
In 2013, the US President signed an executive order designed to help secure the nation’s critical infrastructure from cyberattacks.  As part of that order, he directed the National Institute for Standards and Technology (NIST) to develop a framework that would become an authoritative source...

RAND Insurance Payout Study Hints at Smaller Average Data Breaches

26/09/2016 05:22
While one annual industry report puts the cost of the average cyber-incident at $1 million, an analysis of insurance data puts damages much lower—at about $200,000. Companies that spend little on security workers and technologies may not be acting irresponsibly, but making rational choices, because...

Autonomous Cars’ Effect on Auto, Cyber Insurance

23/09/2016 05:32
Autonomous vehicles are expected to shake up the property/casualty market, as personal auto insurance premiums drop and cyber insurance steps in.   As drivers look forward to a future of eating, reading and watching movies while being transported to destinations around town, insurers are...

Lloyd’s Survey: Facing the Cyber Risk Challenge

20/09/2016 07:02
The Lloyd’s survey examines the attitudes of European business leaders towards cyber risk. These days almost every business, regardless of size or location, relies on digital technology. While it helps companies become more efficient, reduces their costs and opens up new markets, it also makes them...

54% of European CEOs are taking responsibility for cyber-security

20/09/2016 06:48
More than half (54 %) of CEOs in European companies are taking responsibility for cyber-security as it is now considered to be an executive responsibility. New research from Lloyds of London discovered that although cyber is now at the top of the boardroom agenda, many still underestimate...
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