Cyber & Technology
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Arch expands cyber business in Spain and Portugal
Arch Insurance has announced the appointments of Jose Carlos Jiménez Fernández and Rafael Ortiz Losada as senior cyber underwriters in…
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Cyberattacks now number one cause of IT downtime in UK, survey finds
Cyberattacks have emerged for the first time as the leading cause of IT downtime in the UK, finds a new…
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Risk managers call for standardisation in cyber insurance
The European cyber insurance market must embrace standardisation if it wants to truly mature, agreed risk managers and other experts…
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AXA XL warns over unsustainable D&O pricing and says European cyber market needs to ‘catch-up’
The big price swings in D&O insurance suggest that the market isn’t functioning properly and needs to show more discipline…
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One third of UK employees pose cyber risk: QBE survey
One third of employees have made mistakes that threaten the cyber security of their company, according to QBE Europe. In…
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Supply chain ransomware attacks overtake phishing
Cyberattacks against third-party vendors have overtaken phishing to become the lead point of failure in cybersecurity, according to US cyber…
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European buyers face small price rises but stable year-end renewal
Insurers are predicting a much more stable year-end renewal for European firms but they expect rating to remain healthy and…
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Equifax fined £11m in UK for 2017 cyberattack
Credit reference agency Equifax has been fined £11m by the UK’s financial regulator for failing to keep the data of…
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Internet giants stave off massive global DDoS attack
Internet companies Google, Amazon and Cloudflare say they have weathered the internet’s biggest denial of service (DDoS) attack ever seen…
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Spanish airline reports cyberattack on credit card data
Spanish airline Air Europa has disclosed that its online payment system was hit by a cyberattack, exposing the credit card…
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Strong competition sees improving market conditions, says Lockton
New entrants, often with a broader risk appetite, are driving strong competition for business and forcing existing insurers to limit…
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Cyberattacks continue to rise, finds Hiscox survey
More than half (53%) of businesses suffered at least one cyberattack over the last 12 months – a five-point increase…
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Increased modelling credibility required for cyber catastrophe risks
Cyber catastrophe risk is inherently difficult to model and price, and the insurance industry is hampered by a lack of…
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MGM forecasts $100m loss from September cyberattack
Hotel and casino group MGM Resorts said last month’s cyberattack against its US systems is expected to cost about $100m…
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Multi-factor authentication would cut 99% of cyberattacks, says Microsoft
Ninety-nine percent of global cyberattacks could have been prevented by basic security protection, most importantly multi-factor authentication (MFA), according to…
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Allianz urges firms to invest in detection as ransomware claims surge
German insurer Allianz Commercial has called on companies to invest more in cyber detection and response as ransomware claims continue…
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Resilience expands cyber insurance capacity for UK and EU insureds
Cyber risk solution provider Resilience has expanded its underwriting capacity limits to £10m for insureds in the UK and the EU through…
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UK charities ‘lag’ cyber security measures
Charities and other not-for-profit organisations are “lagging behind” in cyber security, leaving them exposed to attacks on highly sensitive and…
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WEBINAR: Mastering cyber resilience
With cyber threats escalating and almost 70% of customers surveyed by Moody’s RMS expecting cyber to see the most opportunity…
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Cyber budgets increase and executive overview improves: Moody’s
Spending on cyber risk has risen fast and attention paid to the issue by top management has significantly increased, according…