Cyber & Technology
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Beazley’s profits triple on back of higher than expected rate rises
Beazley has tripled profits in the first half of this year, on the back of higher than expected rate increases.…
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GDPR fines wakeup call for risk managers who must retest plans: Airmic
The two record GDPR fines proposed last week prove that companies must take this risk seriously and are a wakeup…
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UK cyber action takes down 140,000 phishing attacks
The UK government’s Active Cyber Defence (ACD) programme took down more than 140,000 phishing attacks and 190,000 fraudulent websites, most…
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Lawyers divided over insurability of GDPR fines
Lawyers are divided over whether data protection fines under the General Data Protection Regulation (GDPR) are insurable, with Herbert Smith…
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Insurability of GDPR fines limited across Europe, says DLA Piper
Updated analysis from DLA Piper confirms that General Data Protection Regulation (GDPR) fines are only insurable in two European countries…
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Record GDPR fines come as warning to risk managers
Ferma and other observers say the two proposed record General Data Protection Regulation (GDPR) fines announced this week, for British…
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Marriott faces £99m GDPR fine for data breach
US-headquartered global hotel chain Marriott International faces a £99m (€110m) fine for breaching Europe’s General Data Protection Regulation (GDPR), following…
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Ferma warns that record BA GDPR fine is sign of ‘intensifying’ regulatory action
British Airways’ (BA) proposed record £183.4 (€204.8m) General Data Protection Regulation (GDPR) fine shows that regulators are getting tougher on…
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British Airways faces record £183m GDPR fine
British Airways (BA) is facing a record £183.4m (€204.8m) fine under the General Data Protection Regulation (GDPR), for “poor security…
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Zurich taking ‘flexible’ approach to cyber but warns about gaps in traditional cover
Zurich is working on a “flexible” approach to clarify clients’ cyber cover within traditional P&C insurance policies, but warns they…
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Fraud action saves £3.7m of UK conveyancing funds from cyberattacks
A fraud initiative to tackle cyberattacks on UK conveyancing funds set up by Pen Underwriting and law firm Mills &…
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Lloyd’s orders syndicates to tackle silent cyber cover
Lloyd’s has told its syndicates they must tackle silent cyber exposure by clearly stating whether they include or exclude cover…
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D&O-related lawsuit filed against FedEx over NotPetya
A securities class action lawsuit has been filed against FedEx and some of its senior executives because of alleged misleading…
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Tech flaws expose risk managers to ‘cyber week from hell’
A recent spate of detected flaws in major software and hardware systems – including Microsoft, Intel and WhatsApp – have…
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FM Global to charge for data cover and clarify cyber wordings
From next month, FM Global will charge for data cover and introduce revised wordings to address silent cyber in its…
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Companies will look elsewhere if insurers do not deliver on cyber, say German buyers
Commercial insurers need to be careful that they do not limit their ability to help companies manage cyber risk and…
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Cyber email attack predicted to cost $3.25bn in UK insured lossesCRE
UK businesses would only be insured for $3.25bn of $44bn total economic losses from a major cyberattack on an email…
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US cyber insurers profitable but market is ‘rapidly evolving’
Cyber insurers in the US are currently profitable, but are wary of tomorrow’s risks, according to AM Best. Overall, underwriting…
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Belgium’s Asco confirms ‘large-scale’ ransomware attack
Belgian aviation manufacturer Asco has confirmed a “large-scale” ransomware attack that has taken down all business activities and its communications.…
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Hiscox rolls out cyberattack calculator
Specialist insurer Hiscox has developed an online calculator to quantify businesses’ exposure to cyberattack and boost mitigation. The Cyber Exposure…