For any company, recognizing risks and guarding against them is all part of running a successful business. And risks can change with the changing times. That’s clearly the case with one of the biggest and fastest-growing risks that businesses now face: cyber-related incidents. The World Economic Forum Global Risks Report 2019 highlights a significant increase… Continue reading Growing Cyber Threat Demands a New Approach to Risk Management: Zurich
Tag: cyber insurance
Beazley Breach Response Services Highlights ‘Sextortion’ Email Threat to Businesses
A new form of online bribery by cyber criminals who attempt to extort crypto-currency by claiming to have potentially embarrassing evidence of people using adult websites on work computers is adding to the tide of cyber-related incidents hitting businesses. So-called ‘sextortion’ involves an email from someone claiming to have accessed the recipient’s work computer. The… Continue reading Beazley Breach Response Services Highlights ‘Sextortion’ Email Threat to Businesses
Chubb Advisory Highlights Rising Frequency and Costs for Cyber Attacks Against Small and Midsize Businesses
While major breaches against large, well-known companies continue to dominate media headlines, the reality is that small and midsize businesses are much more common targets of most cyber attacks. In fact, according to Chubb’s claims data, 60 percent of all cyber events experienced by small and midsize businesses in the past three years were caused… Continue reading Chubb Advisory Highlights Rising Frequency and Costs for Cyber Attacks Against Small and Midsize Businesses
Aon Releases 2019 Cyber Security Risk Report: “What’s Now and What’s Next”
Aon plc, the leading global professional services firm providing a broad range of risk, retirement and health solutions, released its 2019 Cyber Security Risk Report today. The report, which details the greatest cyber security threats and challenges organizations are currently facing, discusses that as companies continue to use technology to speed up the transfer of… Continue reading Aon Releases 2019 Cyber Security Risk Report: “What’s Now and What’s Next”
Global Ransomware Attack Could Cost Businesses Nearly $200B: Study
A global ransomware cyber-attack could cost $193bn and affect more than 600,000 businesses worldwide, according to a new report from the Cyber Risk Management (CyRiM) project, the Singapore-based public-private initiative that assesses cyber risks, of which Lloyd’s is one of the founding members. In the report’s scenario, the attack is launched through an infected email,… Continue reading Global Ransomware Attack Could Cost Businesses Nearly $200B: Study
ProWriters Tapped by Venture Insurance Programs as Exclusive Cyber Insurance Provider
ProWriters Insurance has announced that it is now the exclusive cyber insurance provider for Venture Insurance Programs. This new strategic partnership brings ProWriters’ years of experience and expertise in cyber risk management and insurance to business owners in Venture’s select niche industries. “We are very excited to bring our expertise to Venture Programs, their agents,… Continue reading ProWriters Tapped by Venture Insurance Programs as Exclusive Cyber Insurance Provider
Beazley Combines Cyber & Executive Risk Divisions
Beazley has announced the launch of a new division that is to be led by Mike Donovan, called Cyber & Executive Risk, launched to focus on some of the most challenging risks that businesses face around the world. The new unit combines the specialist insurer’s cyber insurance capabilities and its experience and expertise in executive… Continue reading Beazley Combines Cyber & Executive Risk Divisions
Nation’s Power System Reveals Cyber Attacks on Hundreds of Small Contractors
One morning in March 2017, Mike Vitello’s work phone lighted up. Customers wanted to know about an odd email they had just received. What was the agreement he wanted signed? Where was the attachment? Mr. Vitello had no idea what they were talking about. The Oregon construction company where he works, All-Ways Excavating USA, checked… Continue reading Nation’s Power System Reveals Cyber Attacks on Hundreds of Small Contractors
Zurich Faces $100M Lawsuit Over Unpaid NotPetya Claim
U,S. food giant Mondelez is suing Zurich for $100 million after its claim for damage caused by the massive NotPetya ransomware attack was rejected. According to court documents filed by Mondelez – the owner of chocolate brands Cadbury and Oreo – Zurich initially looked to settle the claim and promised the food giant a $10… Continue reading Zurich Faces $100M Lawsuit Over Unpaid NotPetya Claim
Key Cyber Security Trends to Watch in 2019
As business decision-makers look to the year ahead, it is critical to address existing and new cyber security concerns. To help with that process, Chubb has launched its first annual cyber security predictions, which focus on the top risks in 2019 and beyond. “The cyber risk landscape is constantly evolving — it’s vital to stay… Continue reading Key Cyber Security Trends to Watch in 2019