GDPR and focus on privacy set to increase D&O risk

GDPR and focus on privacy set to increase D&O risk

GDPR and focus on privacy set to increase D&O risk

A growing focus on privacy and tougher EU data protection laws could drive future claims against directors and officers, experts warn. The recent alleged misuse of personal data belonging to Facebook users has shone the spotlight on privacy liability just as the EU implements its General Data Protection Regulation (GDPR) on 25 May. The GDPR introduces new rights for consumers…

New stats show cloud-based office solutions under increasing attack

New stats show cloud-based office solutions under increasing attack

New stats show cloud-based office solutions under increasing attack

Cloud-based office solutions are coming under attack, with the number of employee emails compromised by hackers rising in 2018, according to insurer Beazley. Reporting data breach statistics for the first quarter of 2018, Beazley said businesses using the cloud-based solution for Microsoft Office applications – Office 365 – have found themselves particularly targeted by hackers. Such hack and malware breaches…

Rising boardroom concern over cyber and regulatory risk but supply chain overlooked

Rising boardroom concern over cyber and regulatory risk but supply chain overlooked

Rising boardroom concern over cyber and regulatory risk but supply chain overlooked

Cyber and regulatory risks have climbed the boardroom agenda at UK multinationals, but corporate and supply chain risks are still failing to register at firms across Europe, according to a new survey by CNA Hardy. The poll also reveals that although there is growing confidence among UK firms about their prospects, those in continental Europe are far more upbeat. CNA…

Brexit, culture and cyber top agenda for UK financial services regulator

Brexit, culture and cyber top agenda for UK financial services regulator

Brexit, culture and cyber top agenda for UK financial services regulator

The UK’s financial services regulator, the Financial Conduct Authority (FCA), has put Brexit planning at the top of its agenda for the coming year. The roll out to a further 50,000 firms of its Senior Managers Regime, familiar to banks and designed to increase the accountability of senior people in the financial services industry, is another priority, as is addressing…

The Geneva Association warns of huge cyber and healthcare insurance protection gaps

The Geneva Association warns of huge cyber and healthcare insurance protection gaps

The Geneva Association warns of huge cyber and healthcare insurance protection gaps

Insurance protection gaps for cyber and healthcare risks are more acute than the much-discussed natural catastrophe shortfall, according to new research by The Geneva Association. The insurance and risk management thinktank called for further research into the cause of such underinsurance and more effort to boost protection. The Geneva Association’s new Understanding and Addressing Global Insurance Protection Gaps study finds…

How to deal with growing third-party risk under GDPR

How to deal with growing third-party risk under GDPR

How to deal with growing third-party risk under GDPR

IT security firm RSA held its ‘Shifting Sands – Adopting an Agile, Business-Driven Approach to Risk’ event in London last month, during which one panel focused on how to deal with growing third-party risk under the EU’s General Data Protection Regulation (GDPR) that comes into force this May. Expert panellists explained some of the key areas to watch – including…

Companies struggling with GDPR policies and extended security

Companies struggling with GDPR policies and extended security

Companies struggling with GDPR policies and extended security

Organisations are struggling to put in place policies and procedures to meet General Data Protection Regulation (GDPR) requirements, with governance, risk and compliance (GRC) efforts often grinding to a halt at their internal network perimeter, experts warn. Speaking during a panel debate on third-party risks under the GDPR, they also stressed that regulators have the power to stop data processing…

Risk management message being received in Italy but more work needed: ANRA

Risk management message being received in Italy but more work needed: ANRA

Risk management message being received in Italy but more work needed: ANRA

More than half of Italian risk managers say that risk management is now viewed as a fundamental part of strategic planning within their organisations and about two thirds say insurance is viewed as an essential management tool or helpful cashflow tool when losses occur. These are clearly positive signs for the profession in Italy and across Europe. However, almost 30%…

Swiss financial centre trails rivals to tackle cyber risk, watchdog warns

Swiss financial centre trails rivals to tackle cyber risk, watchdog warns

Swiss financial centre trails rivals to tackle cyber risk, watchdog warns

Switzerland’s top financial regulator has said cyberattacks are the most serious threat to its financial system, warning that Switzerland risks falling behind other financial centres in coordinating its response to the growing cyber threat. Addressing a news conference in Bern, CEO of the Financial Market Supervisory Authority (FINMA) Mark Branson said: “Cyberattacks are now the most serious operational hazard facing…

Airmic welcomes Pool Re terror coverage extension

Airmic welcomes Pool Re terror coverage extension

Airmic welcomes Pool Re terror coverage extension

UK risk management and broker associations have welcomed news that the country’s terrorism pool is to offer non-damage business interruption insurance for terrorist attacks. Pool Re says the change will make it the first government-backed terrorism pool to offer non-damage business interruption cover for acts of terror. The reinsurer has already extended its offering to include cyber terrorism, which it…

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