Cyber – Page 6
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News AnalysisThe Big Question March 2023: What will the cyber insurance market look like this year?
Cyber cover is a big topic on the UK insurance industry’s lips - from changes in policy wordings to emerging threats. Insurance Times asks five leading professionals about what the market can expect in 2023
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NewsRansomware could be ‘potential wrecking ball’ for businesses amid Royal Mail $80m ransom
Reports suggest that Royal Mail has refused to pay the ransom
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NewsBiba calls for government intervention as SMEs face ‘very real’ cyber risks
The broker trade body and cyber underwriter CFC have teamed up to improve the cyber landscape amid reports of low penetration of cover
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NewsRisk managers note concerns over sensitive data stored by cyber insurers
Cyber underwriter CFC is adamant that it protects client data to a sufficient degree, however
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NewsFirms must brace for cyber threats as working from home compounds risk – Aon
A global shortage of cyber security skills is projected to continue in the next three years, according to the broker
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News AnalysisBriefing: Insurers debating ‘if they want to play’ in cyber market despite ‘huge protection gap’
With cyber cover premiums ‘up almost 200%’ in aggregate, cyber insurance could be a profitable area for insurers willing to dip their toes into constantly choppy and changing waters
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NewsProperty and cyber markets must get on same page to prevent cover ‘gap’ for cyber-related physical losses
Confusion around cyber exclusions may have stemmed from Lloyd’s clampdown on clearly defining physical and intangible risks
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NewsCyber attack hits 10m JD Sports customers
The sportswear retailer can expect fines in the realm of £17.5m or 4% of annual turnover, says law firm partner
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NewsGlobal commercial insurance costs rose 4% in Q4 2022 – Marsh
The average rate of increase slowed across most lines, however
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NewsInsureds prioritising cyber cover as they cut costs elsewhere
Business interruption insurance is one product that consumers are turning away from, says broker director
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NewsUK government scheme Cyber Essentials insurance is ‘appalling’ for SMEs
The National Cyber Security Centre’s initiative demonstrates both opportunities and obstacles for clients, say insurance industry leaders
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News AnalysisBriefing: Commercial brokers must build cyber cover confidence to avoid ‘lazy broking’
Are brokers sufficiently equipped to have well informed cyber insurance discussions with clients or are they ‘doing a very poor job on the whole’?
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NewsRansomware and cyber war wording innovation named in 2023 tech predictions – DAC Beachcroft
Cyber war endorsements could invite innovation, says the law firm
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NewsClimate change, cyber risks and ESG top sector challenges for 2023 – RPC
Climate change, ESG concerns and cyber risks all take their place in the key trends to look out for this year
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NewsRoyal Mail hit by ‘cyber incident’ that caused disruption to international post
Royal Mail has apologised for any inconvenience caused and has also launched a full investigation alongside cyber crime experts
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IT InterviewRyan Birbeck: Cyber cover set to be ‘significant focus’ for Aviva in next three years
Distribution director for regional brokers believes the insurer is currently ‘underweight’ when it comes to cyber insurance provision
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NewsBrokers key in closing awareness gap for scams like iSpoof
CFC Underwriting warns that cyber criminals are unwavering in their commitment to the goal of extorting money from victims
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NewsCFC creates dedicated fintech team
CFC has witnessed the volume of submissions from fintechs increase by more than 100% year-on-year over the past couple of years
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NewsCyber insurance set to be one of the biggest property and casualty lines – CyberCube
’Brokers are the linchpin’ between insurance relationships says CyberCube senior product manager
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NewsCNA Hardy launches additional cyber cover for technology businesses
The insurer’s new product also includes first party and thid party cyber cover as standard
