Netherlands, Germany and UK record most GDPR breach notices

Netherlands, Germany and UK record most GDPR breach notices

Netherlands, Germany and UK record most GDPR breach notices

More than 59,000 personal data breaches have been reported across Europe since the introduction of the General Data Protection Regulation (GDPR), with the Netherlands, Germany and UK most affected, according to new analysis from DLA Piper. Despite this, only 91 GDPR fines have been imposed, but the law firm expects higher numbers in 2019. DLA Piper said the number and…

Consumers see viruses and insurers as weak points in fight against cyber risk

Consumers see viruses and insurers as weak points in fight against cyber risk

Consumers see viruses and insurers as weak points in fight against cyber risk

Insurers are less trusted by consumers than banks and credit card companies to protect against cyber risk, according to a new survey from Europ Assistance conducted by LEXIS. In Europe, 62% of respondents trusted insurers in the fight against cybercrime, behind credit card providers at 65% and banks at 71%. Across all European countries surveyed – Italy, France, Spain, Switzerland,…

Ferma welcomes EC plans for AI ethics but concerned about use by insurers

Ferma welcomes EC plans for AI ethics but concerned about use by insurers

Ferma welcomes EC plans for AI ethics but concerned about use by insurers

Ferma has welcomed the fact that proposed EC guidelines on artificial intelligence (AI) ethics will be voluntary, but raised concerns that the use of such technology in the underwriting process could put buyers at a disadvantage and mean some might not be able to obtain cover…

UK horse racing sees ‘risk-managed’ return

UK horse racing sees ‘risk-managed’ return

UK horse racing sees ‘risk-managed’ return

The UK has announced a “risk-managed” return to horse racing this week, as the industry looks to control an outbreak of equine flu. The UK’s $4.5bn horse racing industry ground to a halt last week after three cases of highly contagious equine flu were confirmed at a UK-based stable. Four further cases were later reported at a second trainer. But…

Europe recalls childrens’ smartwatch in data protection first

Europe recalls childrens’ smartwatch in data protection first

Europe recalls childrens’ smartwatch in data protection first

The European Commission (EC) has recalled a smartwatch aimed at children over concerns that its GPS feature could be hacked, exposing children to potential risk. It is thought to be the first time an EU recall has been issued over data protection issues. The EC’s RAPEX system issued the alert for the Enox Safe-Kid-One smartwatch last week. The Commission said…

US securities class actions surge in 2018

US securities class actions surge in 2018

US securities class actions surge in 2018

US securities class actions reached a new peak last year, recording the highest number of filings since the 2000 dotcom crash, according to analysis by NERA Economic Consulting. However, NERA also noted a 25% drop in actions against foreign firms. This follows four years of growth in the exposure of foreign firms to securities litigation in the US. A total…

Time to take cyber seriously with more risk budget

Time to take cyber seriously with more risk budget

Time to take cyber seriously with more risk budget

There is a distinct whiff of uncertainty and volatility in the air as 2019 gets underway and the big European insurance and reinsurance renewal has completed. As Europe’s risk managers returned to their desks after a short but hopefully relaxing Christmas and New Year break, they will have no doubt looked at their in-trays in a state of mild panic.…

WEF report highlights need for risk response

WEF report highlights need for risk response

WEF report highlights need for risk response

The risk management community believes the World Economic Forum’s (WEF) Global Risk Report 2019 highlights the importance of risk professionals stepping up to the plate, while also offering insight into how global issues might affect individual organisations. According to Ferma president Jo Willaert, the WEF’s Global Risks Report simply reinforces the “need for companies to have a truly enterprise view…

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