UK regulator slaps Carphone Warehouse with large cyber breach fine

UK regulator slaps Carphone Warehouse with large cyber breach fine

UK regulator slaps Carphone Warehouse with large cyber breach fine

Carphone Warehouse has been fined £400,000 by the UK’s Information Commissioner’s Office (ICO), for failing to protect customer data from cyberattacks. It is one of the largest fines ever levied by the regulator. The ICO said a cyberattack in 2015 left personal data of more than three million customers exposed. It said Carphone Warehouse failed to secure its computer system…

Ferma and insurers on watch as EC paves way for more EU-wide class actions

Ferma and insurers on watch as EC paves way for more EU-wide class actions

Ferma and insurers on watch as EC paves way for more EU-wide class actions

The European risk management and insurance industries are beefing up lobbying efforts in response to the planned introduction of new European Commission (EC) rules this March that would make it easier for European consumers to bring class actions and seek compensation from companies. The EU already has a framework in place, led by the Injuctions Directive, designed to make it…

South Africa’s mining houses one step closer to settling silicosis claims

South Africa’s mining houses one step closer to settling silicosis claims

South Africa’s mining houses one step closer to settling silicosis claims

Claimant miners and South African mining houses are on the verge of an out-of-court settlement in the silicosis cases, which have threatened to run into millions of South African rand in costs and damages. Details have not been released but a statement said: “Attorneys representing all appellants and all respondents involved in the appeal to the South African Supreme Court…

Airmic canvassing members for formal response to Grenfell safety review

Airmic canvassing members for formal response to Grenfell safety review

Airmic canvassing members for formal response to Grenfell safety review

Airmic is pleased to see a focus on culture in the interim report on UK building regulations and fire safety following the Grenfell Tower fire, and wants to hear the views of its members before submitting a formal response to the review. A damning independent interim report commissioned by the UK government, published in late December, concludes that regulations to…

Spotlight falls on CROs as business faces up to cyber risk in 2018

Spotlight falls on CROs as business faces up to cyber risk in 2018

Spotlight falls on CROs as business faces up to cyber risk in 2018

Chief risk officers (CROs) will become one of CEOs’ “most valuable assets” in 2018 as companies face up to cyber risk, according to Aon firm Stroz Friedberg in a set of cyber security predictions for the year ahead. In a new report, Stroz Freidberg says companies have woken up to the enterprise-wide risks posed by cyber that go beyond the…

Risks for UK manufacturers tip the balance in 2018

Risks for UK manufacturers tip the balance in 2018

Risks for UK manufacturers tip the balance in 2018

UK manufacturers said they face more risks than opportunities in 2018, with Brexit dominating the list of concerns, according to a new survey from manufacturers’ organisation EEF and AIG. Yet at the same time, the survey found that UK manufacturers are more optimistic about the global economic outlook since 2014, with 42% of companies expecting global trading conditions to be…

New cyber warnings follow microchip bugs

New cyber warnings follow microchip bugs

New cyber warnings follow microchip bugs

Insurer CNA Hardy has warned businesses affected by two bugs – dubbed Meltdown and Spectre – affecting Intel and other manufacturers’ microchip processors, to check they only install security patches from verified sources and avoid falling foul of fake support sites designed to exploit systems. The two hardware bugs were independently uncovered and publicly revealed last week. Spectre affects almost…

Petrobras proposes $2.95bn investor settlement over bribery probe

Petrobras proposes $2.95bn investor settlement over bribery probe

Petrobras proposes $2.95bn investor settlement over bribery probe

Brazilian oil company Petrobras has agreed to pay $2.95bn to settle a class action lawsuit in the US, brought by investors claiming a corruption scandal negatively affected their holdings. The state-controlled oil company denied any wrongdoing, but said the proposed settlement, which has yet to be approved, should end uncertainty about its liabilities before a court. Petrobras was part of…

Munich Re readies GDPR compliance tool as experts warn many firms not ready for new rules

Munich Re readies GDPR compliance tool as experts warn many firms not ready for new rules

Munich Re readies GDPR compliance tool as experts warn many firms not ready for new rules

Help is at hand for businesses struggling to be ready for the EU’s General Data Protection Regulation (GDPR), which comes into force in May 2018. Munich Re is putting the finishing touches to a tool it says will help companies understand how their business stores and uses personal data. Under the GDPR rules, companies that collect personal information must be…

Growing signs that nanotechnology poses ‘new asbestos’ risk: Clyde & Co

Growing signs that nanotechnology poses ‘new asbestos’ risk: Clyde & Co

Growing signs that nanotechnology poses ‘new asbestos’ risk: Clyde & Co

Fears that nanomaterials could be the next asbestos are starting to gather momentum, according to Clyde & Co in a set of risk predictions and emerging trends for the year ahead. Although other risks have been labelled the “new asbestos”, Clyde & Co said nanotechnology “may be shaping up to be deserving of the epithet”. “The parallels with asbestos are…

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