Zurich Insurance has launched its new Zurich Cyber Insurance Policy with an updated form designed to help businesses protect themselves from cybersecurity risks. The new form replaces Zurich’s Security & Privacy policy and brings together coverages previously available only through endorsements but now embedded within a convenient, unified solution that can be customized to meet… Continue reading Zurich Launches New Globally-Consistent Cyber Insurance Policy
Tag: cyber risks
Insurers’ Cybersecurity Improves Despite More Attacks
Insurance companies repelled 78% of cyberattacks last year, up from 70% the previous year, according to Accenture’s recent survey of 33 carriers, “Insuring the Future: 2018 State of Cyber Resilience in Insurance.” The improvement comes despite an increasing number of attacks overall. Most common are attacks that originate internally at insurance companies, at a clip… Continue reading Insurers’ Cybersecurity Improves Despite More Attacks
British Airways Suffers Major Cyber Attack Impacting 380,000 Customers
British Airways was warned by IT experts that it was vulnerable to a hack in which criminals could steal customers’ card details earlier this year, it has been claimed. The airline announced on Thursday that it had suffered a major hack compromising the bank card information of around 380,000 customers. Due to strict new data… Continue reading British Airways Suffers Major Cyber Attack Impacting 380,000 Customers
Cyber Insurance Market to Double by 2020: Munich Re
Cyber risks are one of the biggest threats to the digital and networked economy, cites Munich Re, emphasizing that the most important thing for companies is to ensure they have the best possible technical prevention. Torsten Jeworrek, member of Munich Re’s Board of Management: “Cyber risks are one of the biggest threats to the networked… Continue reading Cyber Insurance Market to Double by 2020: Munich Re
Aon Offers $350M Reinsurance Capacity for Silent Cyber Solutions
Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, is creating new reinsurance capacity in cyber and launching its silent cyber solution. Working with key reinsurers in Bermuda, London and Europe, Aon has already sourced $350m of capacity prior to launch. The facility will protect insurance carriers… Continue reading Aon Offers $350M Reinsurance Capacity for Silent Cyber Solutions
Swiss Re Corporate Solutions Appoints Sandy Codding as Global Head Cyber & Technology
Swiss Re Corporate Solutions appoints Sandy Codding as Global Head Cyber & Technology, effective immediately. In this role, Mr. Codding is responsible for overseeing cyber and technology underwriting guidelines, rating methodology, distribution relationships, product sales and new product development. Globally, he will focus on growing Swiss Re Corporate Solutions’ offerings in the small and middle… Continue reading Swiss Re Corporate Solutions Appoints Sandy Codding as Global Head Cyber & Technology
Uncertainty is Widespread Across Companies Over Who Takes the Lead on Cyber: WTW
A majority of executives around the world feel they face a “specialist-generalist” dilemma as to whom leads on cyber resiliency due to its critical nature across the company, but also the recognition that specialization is necessary. This is according to the results of a global survey conducted by The Economist Intelligence Unit (EIU) and sponsored… Continue reading Uncertainty is Widespread Across Companies Over Who Takes the Lead on Cyber: WTW