Cyber & Technology
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CFC names Graeme Newman CEO
CFC, the fast-growing cyber risk insurer, has named chief innovation officer Graeme Newman as its new CEO. Founder CEO Dave…
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UK subsidiaries and foreign banks urged to close cyber regulatory gap
Subsidiaries of UK banks and branches of non-UK headquartered banks must boost cyber risk management to close the gap between…
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Q2 rates up 28% in UK and 13% in Europe but hardening slows, finds Marsh
Commercial insurance prices increased 28% in the UK during the second quarter, the biggest rise of all regions globally, and…
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Aon and WTW terminate $30bn deal over DoJ ‘impasse’
Aon and Willis Towers Watson (WTW) have cancelled their $30bn merger over an “impasse” with the US Department of Justice…
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Rate increases return Beazley to H1 2021 profit
Specialist insurer Beazley has reported pre-tax profit of $167.3m for the first half of 2021, from a loss of $13.8m…
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Insurers act on rise in ransomware attacks
Cyber risk insurers are ratcheting up their underwriting standards in response to increasingly severe and frequent ransomware attacks around the…
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Gallagher beefing up to become third option in Europe
A J Gallagher is receiving an “unusual” level of positive feedback from customers and carriers alike across Europe about its…
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Australian general insurers must review risk management frameworks
Australian general insurers have been told to review the soundness of their risk management frameworks in light of recent issues…
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Kaseya may signal worrying new phase in cyberattacks
The recent Kaseya ransomware attack could signal the start of a new wave of larger, more sophisticated cyberattacks, according to…
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![Margrethe Vestager, EC commissioner in charge of competition policy Credit: Friends of Europe from Brussels, Belgium [CC BY 2.0 (https://creativecommons.org/licenses/by/2.0)]](https://www.commercialriskonline.com/wp-content/uploads/2019/03/0_Vestager-Margrethe_European_Commissioner_for_Competition-390x220.jpg)
EC gives Aon-WTW deal conditional approval
The EC has given Aon’s $30bn acquisition of Willis Towers Watson (WTW) conditional approval on the back of a raft…
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Pool Re forms advisory group to develop systemic risk solutions in UK
UK terror mutual Pool Re has launched an expert advisory group to explore how the UK can better protect itself…
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Marsh McLennan reveals April data breach
Marsh McLennan was hit by a data breach in April, involving access to social security numbers and other personal information…
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Kaseya says impact of ransomware attack ‘overstated’
US IT firm Kaseya said a ransomware attack over the weekend has been limited to affect 50 of its 35,000…
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Global cyber insurance premiums to triple and top $20bn by 2025, says GlobalData
The global cyber insurance market grew by 34% last year after slow growth of just 4% in 2019, with gross…
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Risk management critical for ransomware cover as losses mount
Cyber insurers are reacting to mounting ransomware losses by raising rates further, restricting cover, limiting capacity and, in some cases,…
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Dutch healthcare firms on notice after GDPR fine for orthodontist
Healthcare providers in the Netherlands have been reminded of the importance of protecting their clients’ data after the Dutch Data…
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Kaseya cyberattackers demand $70m as attack brings down clients and users
A major cyberattack on US IT firm Kaseya has rippled through its global managed service provider clients and their customers,…
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Cyber rates surge 32% as buyers vie for capacity, says Howden
Global cyber insurance rates have risen 32% in the year to June 2021 and seen the largest increase of all…
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Italy launches National Cybersecurity Agency
The implementation of the National Recovery and Resilience Plan (PNRR), through which Italy aims to lay the groundwork and restart…
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Aon battles with DOJ over merger trial date as competition concerns mount
The $30bn merger of mega brokers Aon and Willis Towers Watson (WTW) looks certain to be delayed, and potentially scuppered,…