Ferma concerned that buyers’ view missing from EU cyber insurance report

Ferma concerned that buyers’ view missing from EU cyber insurance report

Ferma concerned that buyers’ view missing from EU cyber insurance report

Ferma has welcomed the publication of an EU report on standardising various aspects of cyber insurance, but “regrets” that the voice of buyers is not represented, with evidence gathered only from the insurance industry. In particular, Ferma is concerned that the Commonality of Risk Assessment Language in Cyber Insurance report by the European Union Agency for Network and Information Security…

ENISA calls for standardisation of cyber insurance

ENISA calls for standardisation of cyber insurance

ENISA calls for standardisation of cyber insurance

The European Union Agency for Network and Information Security (ENISA) has called on the insurance industry and policymakers to standardise cyber insurance coverage, language and risk assessments, in a major new report. In its report published on Wednesday (15 Nov), the EU’s cybersecurity agency makes several recommendations for policymakers and insurers, aimed at harmonising cyber insurance in a bid to…

European business leaders meet UK PM to demand Brexit progress in next two weeks

European business leaders meet UK PM to demand Brexit progress in next two weeks

European business leaders meet UK PM to demand Brexit progress in next two weeks

A delegation of Europe’s business leaders has warned the UK prime minister that the country’s economic stability will be at risk if its government fails to commit to a divorce settlement with the European Union within the next two weeks. In a meeting yesterday between Theresa May and European business representatives, led by BusinessEurope, the UK prime minister heard how…

GDPR to bring ‘wave’ of litigation, finds DAC Beachcroft research

GDPR to bring ‘wave’ of litigation, finds DAC Beachcroft research

GDPR to bring ‘wave’ of litigation, finds DAC Beachcroft research

Companies that store personal data face a “wave” of litigation for data breaches under the General Data Protection Regulation (GDPR), in addition to regulatory fines, according to an 18-month long research project by DAC Beachcroft. In a survey of data protection experts across the 28 EU member states, DAC Beachcroft found that more than 80% of EU jurisdictions are braced…

Motor vehicle recalls set for record year in Europe

Motor vehicle recalls set for record year in Europe

Motor vehicle recalls set for record year in Europe

Motor vehicle recalls in Europe increased by 11% in the third quarter of this year to 114, according to RAPEX figures, making it the second highest period in RAPEX history. Some 59% of the recalls were for passenger vehicles, the numbers highlighted in Stericycle Expert Solutions’ European Recall and Notification Index show. Motor recalls in the third quarter take the…

The pros and cons of compulsory insurance

The pros and cons of compulsory insurance

The pros and cons of compulsory insurance

The insurance industry is usually in favour of compulsory insurance – for obvious reasons. But it’s not always the case. In February this year, the EU parliament asked the European Commission to look into possible compulsory insurance for specific categories of robots, as part of the development of civil law rules on robotics. But insurers are against compulsory insurance for…

CBI warns time running out for Brexit decisions

CBI warns time running out for Brexit decisions

CBI warns time running out for Brexit decisions

Time is running out for companies to make Brexit decisions, according to a survey by the Confederation of British Industry (CBI), which has urged business and politicians to unite so negotiations can move forward and, as a matter of urgency, transitional arrangements can be finalised. New research presented to the CBI’s annual conference yesterday reveals that 60% of UK businesses…

EU countries to declare cyberattacks as act of war: report

EU countries to declare cyberattacks as act of war: report

EU countries to declare cyberattacks as act of war: report

European Union (EU) countries are just weeks away from invoking an agreement to declare cyberattacks from other nations as an act of war, according to a report from UK newspaper the Daily Telegraph. It has seen a draft document that warns countries including North Korea and Russia against using cyber espionage and hackers on EU member states. The Framework on…

Insurance must be priority in Brexit negotiations, concludes UK Treasury report

Insurance must be priority in Brexit negotiations, concludes UK Treasury report

Insurance must be priority in Brexit negotiations, concludes UK Treasury report

The UK government must include insurance as a priority sector in Article 50 Brexit negotiations, according to a report published by the Treasury Committee. The report says it is crucial the UK government puts in place a reciprocal agreement with the EU to address the issue of passporting rights, and that this should be stronger than existing arrangements with current…

UK regulator warns financial services firms nearing decision day on Brexit

UK regulator warns financial services firms nearing decision day on Brexit

UK regulator warns financial services firms nearing decision day on Brexit

The UK regulator has warned that its financial services firms will start taking irreversible decisions on the location of operations and staff in the next couple of months, if the UK and EU fail to agree a transition deal as part of Brexit negotiations. At the same time, the Bank of England fears that about 75,000 jobs could be lost…

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