Cyber Risk News

UK’s Allianz Insurance Partners with Pentura to Provide Cyber Risk Services

Allianz Insurance has joined forces with cyber risk management company, Pentura, to provide commercial customers with help and guidance to improve cyber security. As part of the partnership, Pentura, which is based in Reading, England, will provide Allianz Commercial policyholders …

Public-Private Catastrophe Scheme in UK Would Help Mitigate Cyber-9/11: Study

A public-private, cyber-catastrophe reinsurance arrangement would improve the UK’s resilience against the growing threat of cyber risks in this interconnected world, according to a cyber report released this week. Given the fact that the current market for cyber insurance is …

Marsh: Many Firms Fail to Assess Cyber Threats From Business Partners

Many UK firms are failing to adequately assess their customers and trading partners for cyber risk, and are more vulnerable to cyber attacks themselves as a result, according to a study published by Marsh. Marsh’s Cyber Risk Survey Report found …

Barbican Underwriter Elected Chair of Lloyd’s Market Association Cyber Group

Geoff White, underwriting manager for Cyber, Technology and Media at Barbican Insurance Group, has been elected chairman of the Lloyd’s Market Association’s (LMA) newly created Cyber Business Panel. White was elected by the members of the panel on June 5. …

Allied World Launches New Cyber Risk Assessment, Mitigation Service

Allied World North America has launched Allied World // FrameWRX, a prescriptive and proactive cyber risk management program designed to help companies to address their exposures. This new offering provides Allied World’s Privacy // 403 SRVS and Privacy // 403 SRVS …

Companies Let Most Technology Assets Go Unprotected: Aon/Ponemon

Cyber is one of the fastest growing risks for companies across the globe, and information technology assets are often as valuable as property assets, yet companies are only protecting 12 percent of those assets compared to 51 percent of tangible …

Southeast Schools Hoping to Fill Need for Insurance Cybersecurity Experts

The insurance industry, like other businesses, has come to realize it needs to do more to protect its companies, customers, employees and portfolios from cyber threats. Cyber-savvy professionals are in high-demand and are being scooped up by companies needing to …

RIMS Report: Insurance Gamechangers Include Cyber, Talent, Data

Protecting clients against growing and poorly understood risks associated with information technology system failures is a leading concern of the insurance industry today, a group of underwriters and brokers told risk managers this week. Along with cyber security, the insurance …

Brand Damage, Financial Head Aon’s Survey of Top 10 Global Risks

Aon Risk Solutions, the global risk management business of Aon plc, has unveiled the key risks as identified by its clients across the globe. Cyber risk made the list for the first time in the No. 9 spot, which the …

Insurance Industry Says Cyber Threat Database Needed

Cyber insurance is one of the fastest growing property/casualty insurance markets. But the sector remains the Wild West of risk prevention, a fast moving target with rapidly-evolving risk portfolios, along with losses and liabilities that remain hard to quantify. Last …