Cyber & Technology
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Ferma lobbies EU council to prioritise cyber and sustainability risk transfer
Ferma has called on the Swedish presidency of the Council of the EU to focus on closing insurance protection gaps…
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Rates up 4% in Q4 as moderation trend continued: Marsh
Average global commercial insurance rates rose by 4% in Q4 2022 as prices increased for the 21st consecutive quarter but…
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Healthcare overtakes finance to register most cyber breaches in 2022: Kroll
Healthcare reported the most cyber breaches of all sectors in 2022, overtaking finance to account for 22% of incidents, up…
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Lloyd’s updates cyber war clauses
The Lloyd’s Market Association (LMA) has released updated cyber war and cyber operation clauses. The updated clauses meet Lloyd’s market…
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Pool Re in discussions to extend remit to cyber risk: report
Pool Re has held talks with its government to extend the UK terrorism backstop’s remit to cover state-sponsored and war-related…
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Accretive adopts CyberCube analytics to boost cyber advice
New wholesale and specialty insurance agency network Accretive Insurance Solutions said it will use CyberCube’s analytics to enhance its risk…
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Databarracks adds crisis management cyber services
Databarracks has extended its cyberbreach recovery offering to include non-IT services such as crisis management. The business continuity and disaster…
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UK suffered 41% of its largest ever cyberattacks last year, says TWC
IT firm TWC IT Solutions says its analysis of the 200 most significant cyberattacks in the UK since 2006 shows…
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Europe’s risk managers need to act as EU ramps up cyber resilience rules
Europe’s risk managers will need to become more involved in their organisations’ cyber security strategies as the EC steps up…
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Reinsurance renewal signals new reality for buyers, says Aon
The January 2023 renewal was the most challenging in a generation, as the reinsurance market underwent a fundamental shift in…
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German firms warned to act on coming Cyber Resilience Act or risk ‘severe’ penalties
Germany-based IoT-Security provider ONEKEY has warned that the coming EU Cyber Resilience Regulation could lead to “millions” in fines for…
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Airmic members say rate increases continue to slow with first signs of softening
Airmic said its latest member survey reveals continued “green shoots” for insurance buyers as rate increases slow and some risk…
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AGCS says Beazley’s cyber cat bond likely to set precedent and spur market
AGCS’s chief underwriting officer (CUO) thinks the recent cat cyber bond created by rival Beazley will set a precedent in…
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GDPR fines more than double in 2022 to €2.9bn, says DLA Piper
Data protection fines levied by European regulators more than doubled in 2022 to €2.92bn from €1.09bn in the previous 12…
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BI and cyber top risk list for Americas and Asia Pac in Allianz Risk Barometer
The two most important business risks in the Americas and Asia-Pacific in 2023 are business interruption and cyber incidents, according…
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European firms urged to adopt multi-layered solutions to tackle rising cyberattacks
Ransomware will continue to dominate the cyber security landscape this year, cyberattacks on critical infrastructure will rise and new EC…
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Concern jumps over macroeconomic risks but cyber and BI retain top spots: Allianz Barometer
Macroeconomic risks and the energy crisis have shot up the ranking, but cyber and business interruption (BI) remain the top…
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New tool ranks corporate cyber security standards for investors
Risk managers won’t just have to worry about how their insurers measure their cyber security standards after the launch of…
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Europe’s insurers back more unified cyber reporting but warn against new rules
The European insurance sector supports the convergence of cyber reporting requirements and the re-use of existing standards to deliver more…
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IP risk management and geopolitics big concern for life sciences
A new survey by WTW finds that life science firms are now concerned about a much wider range of enterprise…