Cyber & Technology
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Data theft costs German firms €267bn
Data theft, sabotage and industrial espionage against German firms cost a record high of €267bn over the past 12 months,…
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WTW launches fintech and digital assets taskforce
A fintech and digital assets taskforce has been launched by WTW to provide clients with consultancy support for managing risks…
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Flat reinsurance rates expected in 2025, says Fitch
Reinsurance market rates are expected to be mostly flat in 2025 and terms and conditions to broadly hold steady, according…
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Dutch regulator fines Uber €290m for GDPR breaches
Uber has been fined €290m by the Dutch data protection regulator Autoriteit Persoonsgegevens (AP) after it found the tech firm…
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South African general insurance industry to see continued strong growth
Increasing demand for policies covering nat cat events, and growing incidents of cybercrimes, together with rising vehicle sales, are behind…
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Ransomware victims up 16% in Q2 as payments reach record high
There was an “alarming” 16% rise in the number of global ransomware victims in Q2 over the preceding quarter, with…
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Cyber insured numbers ‘negligible’ to size of risk, says Swiss insurer
The number of companies covered by insurance for cyberattacks remains “negligible”, according to Swiss carrier Helvetia Insurance as it hosted…
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UK risk managers say AI cybersecurity code should be mandatory
The majority (74%) of UK risk managers want the government’s planned cybersecurity code for AI technologies to be compulsory, according…
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Signs of softening property and casualty market in US
The second quarter of 2024 saw signs of softened property and casualty market conditions in the US, according to The…
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DDoS attacks surge 46% in H1
The number of distributed denial of service (DDoS) cyberattacks spiked by 46% across the world in the first half of…
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UK tracks fall in cyber claims
Twice as many UK organisations now able to recover their own systems after a cyberattack, rather than pay a ransom,…
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Insiders and stolen credentials fuel rise in targeted cyberattacks
Insider attacks, stolen credentials and cloud intrusions are fuelling a rise in targeted cyberattacks, according to cybersecurity firm Crowdstrike. Interactive…
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Cyberattackers move focus from UK to mainland Europe
The UK is no longer the prime target for cyberattacks within Europe, passing the unwanted honour to Spain, according to…
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Wefox Austria launches cyber app
Insurtech Wefox has partnered with Allianz as it prepares to launch a cyber protection and insurance app, weprotect, to the…
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US cyber insurers report zero premium growth in 2023
US cyber written premium reported to the National Association of Insurance Commissioners (NAIC) decreased by just under 1% to $7.18bn…
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Captive owners advised to tread carefully with cyber risks
Cyber liability risks can be effectively covered through captive insurers, but organisations should scrutinise their potential exposures and the consequences…
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Europe’s buyers underinsure cyber and IP risks: Aon
Europe’s businesses are too exposed to cyber risks, driven by the rising threat from generative AI over the next two…
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North America sees buyer-friendly conditions as competition grows
Buyer-friendly conditions continued across much of the North American insurance market, driven by healthy competition, according to Aon. In Latin…
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Global insurance market now in flat territory: Aon
Things continued to improve for insurance buyers in Q2 as insurer growth plans saw risk managers enjoy a competitive, well-capitalised…
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Insureds urged to review policy wordings after CrowdStrike
Cyber insurance buyers should review their policies, particularly wordings related to business interruption exposures, to ensure they are adequately covered…