In July 2018, news emerged that between 27 June and 4 July, hackers had infiltrated the IT systems of Singapore Health Services (SingHealth), the largest healthcare group in Singapore. The hackers illegally accessed and copied the non-medical personal particulars of 1,495,367 patients to servers hosted overseas. Approximately 159,000 of the affected group, including Prime Minister Lee Hsien Loong and several…
The world’s inability to cooperate and tackle major global risks has reached “crisis levels”, and is only expected to worsen in the year ahead, finds the World Economic Forum’s (WEF’s) Global Risks Report 2019…
Cyber has been voted the joint-biggest risk facing companies in the Allianz Risk Barometer 2019, joining perennial leading concern business interruption (BI) at the top of the rankings for the first time…
UK state-backed terrorism reinsurer Pool Re is on the cusp of sponsoring the first terrorism cat bond, according to media reports…
Cybersecurity will be challenged further in 2019 as regulators step up pressure on companies to prevent attacks and criminals change their behaviour, according to a set of cybersecurity predictions from Chubb. The insurer says regulatory attention will shift from how companies handle post-cyberattack incidents to pre-incident. This will place a focus on how they collect and store data, as well…
Newly created HDI Global Specialty has formally opened for business after merging the specialty lines of Talanx-owned HDI Global and Hannover Re…
Brexit risks have dented UK manufacturers’ confidence going into 2019, with 72% naming it the biggest source of uncertainty in the latest EEF/AIG survey. Cyber risk topped the list of non-Brexit threats. Also concerned about protectionism and a global slowdown, UK manufacturers are more pessimistic about business prospects in 2019 than last year. Exchange rate volatility topped the list of…
Hacking group The Dark Overlord appears to have breached a law firm holding information from Lloyd’s of London and Hiscox, threatening to make public information that it says supports 9/11 World Trade Center attack conspiracy theories, in exchange for Bitcoin. On New Year’s Eve, the group published an announcement on Pastebin saying it had secured information from several law firms,…
A cyber coverage dispute between Zurich Insurance and food manufacturer Mondelez International over a war exclusion exposes a worrying problem for risk managers, experts warn…
The Marriot data breach could cost up to $600m in direct cyber losses, with insurance potentially covering half that amount, according to recent estimates and reports…