Cyberattacks are the biggest risk to businesses, with the prospect of falling victim to hacking and other cybercrime the threats that the majority of CEOs are most worried about, according to a new report on the views from the boardroom. Professional services firm PwC surveyed over 1,600 CEOs from around the world and found that… Continue reading CEOs Are Deleting their Social Media Accounts to Protect Against Hackers
Tag: cyber threats
U.S. District Court Upholds Insurance Claim Following Cyber Attack
The U.S. District Court for the District of Maryland ruled that an insurance carrier should pay out on coverage it sold to a client whose computer system was damaged by a ransomware attack. According to the Memorandum Opinion, the client – an embroidery and screen printing business – suffered a ransomware attack in December 2016… Continue reading U.S. District Court Upholds Insurance Claim Following Cyber Attack
SEC Urges Better Cybersecurity Practices at Financial Firms
The Securities and Exchange Commission is telling financial-services companies what kind of cybersecurity practices it has found during audits, giving them detailed information on how to handle sensitive data and guard against cyberattacks. The observations by the SEC are the latest in a string of moves by regulators and government agencies that demonstrate they are… Continue reading SEC Urges Better Cybersecurity Practices at Financial Firms
Fitch Ratings: Silent Cyber Assessment Key to Managing Evolving Insurance Risk
Property and Casualty (P/C) insurers are gradually gaining sophistication in measuring risk aggregations and modeling potential losses from catastrophic cyber events, but efficacy of this analysis is inhibited by exposure to non-affirmative or “silent” cyber risk, Fitch Ratings says. Many insurers now view cyber insurance as an attractive source of premium growth and profits. However,… Continue reading Fitch Ratings: Silent Cyber Assessment Key to Managing Evolving Insurance Risk
Reinsurers’ Silent Cyber Concerns Ease in 2019: Wills Re Survey
The reinsurance sector is considerably less concerned about silent cyber exposures than it was in 2018, according to an annual global survey by Willis Re, the reinsurance division of broker Willis Towers Watson. Analysts believe that the fall in silent cyber claims expectations could stem from the absence of wide-scale cyber events in the 12… Continue reading Reinsurers’ Silent Cyber Concerns Ease in 2019: Wills Re Survey
Growing Cyber Threat Demands a New Approach to Risk Management: Zurich
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
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”
Cyber and Data Loss Overtake Regulatory Concerns as Top Priority Facing Senior Managers
Willis Towers Watson), in conjunction with Allen & Overy, has today launched its sixth annual Directors’ liability report – “D&O: Personal Exposure to Global Risk” which outlines the changing risk culture affecting senior management. According to the survey, cyber-attack and data loss/breach top the list of risks which are causing directors most concern. These risks… Continue reading Cyber and Data Loss Overtake Regulatory Concerns as Top Priority Facing Senior Managers
Artificial Intelligence Set to Compound Cyber Challenges
Artificial intelligence (AI) growing more potent and easier to use, threatens to exacerbate the already-considerable challenges companies face as they deal with cyberattacks, researchers warn. While rare, researchers say early signs of such advanced forms of attacks have already been detected. Earlier this year, cybersecurity firm Darktrace Inc. spotted a never-before-seen attack at a client… Continue reading Artificial Intelligence Set to Compound Cyber Challenges