Virgin Media warns customers over router hacking risk

Virgin Media warns customers over router hacking risk

Virgin Media warns customers over router hacking risk

Cable broadband provider Virgin Media has told 800,000 of its customers in the UK to change their passwords to protect against being hacked. The advice came after an investigation by consumer group Which? found that Virgin Media’s Super Hub 2 router can be hacked in a matter of days if it is left with the default password that is printed…

Marsh president: ‘Age of the Client’ or ‘Age of Risk or Disruption’?

Marsh president: ‘Age of the Client’ or ‘Age of Risk or Disruption’?

Marsh president: ‘Age of the Client’ or ‘Age of Risk or Disruption’?

The current environment is the ‘Age of the Client’ according to the president of Marsh, John Doyle. Speaking at the Marsh & McLennan Companies Young Professionals’ Global Forum 2017, he called upon delegates to take advantage of the multiple opportunities, pointing to the increasingly dynamic insurance arena, with the emergence of autonomous vehicles, new cyber risks and a constantly evolving…

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

First introduced in 2009, bitcoin has had a turbulent history that shows little sign of settling down. In spite of the drama that surrounds it, the cryptocurrency remains a topic for serious discussion. Graham Hawkins, XL Catlin’s head of fine art and specie, describes the unique characteristics of this “borderless currency”, and considers its viability for mainstream use. Aristotle was…

Swiss Re report names top 20 emerging risk trends

Swiss Re report names top 20 emerging risk trends

Swiss Re report names top 20 emerging risk trends

Swiss Re has unveiled the top 20 emerging risks, naming reduced market access, regulatory fragmentation, the return of inflation and cloud services risk accumulation as the most immediate threats carrying the highest risk during the next three years. Published in Swiss Re’s annual SONAR report, the research also identifies new risks further down the line, with underestimated infectious diseases and…

Chubb invests in international information technology practice

Chubb invests in international information technology practice

Chubb invests in international information technology practice

Chubb has announced the heads of its information technology industry practice for overseas general insurance. Tim Stapleton, currently product head for cyber and technology E&O insurance for overseas general insurance, has been made information technology industry practice leader for overseas general. Based in London, Mr Stapleton will have oversight of the practice and will be responsible for implementing underwriting strategy.…

THB industrial cyber risk package includes alternative firewall technology

THB industrial cyber risk package includes alternative firewall technology

THB industrial cyber risk package includes alternative firewall technology

A cyber security protection package for industrial businesses has been launched by a partnership comprising broker THB in conjunction with London market insurer CNA Hardy and cybersecurity specialist Waterfall Security Solutions. Traditional cybersecurity solutions, such as firewalls and intrusion detection solutions, are failing to provide sufficient protection for industrial control systems, according to the trio. Waterfall’s proprietary Unidirectional Security Gateway…

The words on everyone’s lips

The words on everyone’s lips

The words on everyone’s lips

Cyber risk/cyber security is the most-used word or phrase encountered by insurers in 2016 according to a report from AM Best. About one-third of insurers surveyed cited cyber as the most common buzzword, while ‘low/negative interest rates’ placed second (23.1% of responses) and ‘increasing regulation’ finished third with 10.6% of respondents citing the phrase. Those surveyed were also asked about…

Insurers urged to address emerging fracking risks

Insurers urged to address emerging fracking risks

Insurers urged to address emerging fracking risks

Insurers need to address growing fracking risks and develop policies to specifically cover the emerging threat, according to a new report from the Chartered Insurance Institute (CII). The report, which is focused on UK risks, says the expected increase in onshore fracking following government support for the technique needs to be tackled head-on by insurers through designing specific policy cover.…

Climate change could soon impact D&O cover – Clyde & Co

Climate change could soon impact D&O cover – Clyde & Co

Climate change could soon impact D&O cover – Clyde & Co

Underwriters need to start asking searching questions about how businesses are responding to climate change, according to law firm Clyde & Co. The warning came at a Clyde & Co seminar on the impact of climate change on D&O cover. There is potential for a growing volume of litigation and disputes, in which corporate boards are being held to account…