cyber News

Broker THB and CNA Hardy Partner to Provide Global Industrial Cyber Solution

London-based broker THB, CNA Hardy and cyber security specialist Waterfall Security Solutions have entered into a partnership to provide a cyber security protection package for industrial businesses globally. The package, distributed exclusively through THB, includes CNA Hardy’s cyber technology and cyber …

XL Catlin Appoints QBE’s Tuplin as Head of Cyber & TMT, International

XL Catlin’s insurance operations has appointed James Tuplin as head of Cyber and Technology, Media & Telecoms (TMT), International. In this role, Tuplin is responsible for the underwriting of cyber insurance, as well as professional indemnity insurance for the technology …

Self-Driving Cars to Transform Motor Insurance in Liability Shift: Fitch

Widespread use of autonomous vehicles will completely transform the motor insurance sector over the long term when liability begins to shift towards manufacturers and traditional risk pools shrink, according to a report published by Fitch Ratings. “The question of who …

UK’s Terrorism Reinsurer, Pool Re, Plans to Extend Cover to Include Cyber

Britain’s 6 billion pounds ($7.3 billion) terrorism reinsurance fund hopes to extend its cover to include cyber attacks on property, chief executive Julian Enoizi said. Pool Re, set up in 1993, acts as a backstop to insurers paying out claims …

Lloyd’s MGA, CFC Underwriting, Launches Cyber Incident Response App

CFC Underwriting, the London-based specialist lines underwriting agency, announced the launch of a new cyber incident response application. The app allows policyholders to notify a claim with a click of a button and receive specialist support from CFC’s global cyber …

Confusing, Costly Cyber Policies Create Obstacles to Market Growth: Deloitte

Despite the rising profile of cyber risks, buyers have failed to widely embrace cyber coverage. At the same time, insurers generally have remained cautious about writing the coverage on a large scale basis. A recent report published by accounting and …

Australia to Offer ‘World’s First’ University Course to Fight Cyber Crime

Australia said on Friday it will offer the world’s first university course to train intelligence analysts to fight cyber crime, prompted by innovative methods of money transfer among organized crime and militant groups. The measure expands on Prime Minister Malcolm Turnbull’s attempts …

Level of Cyber Risk Management for Many Firms Is ‘Unsustainable’: Swiss Re

Despite increased awareness of rapidly evolving cyber threats, relatively few corporations have integrated cyber security into their mainstream risk management programs – a situation that is “unsustainable,” according to Swiss Re’s latest “sigma” report. The costs of cyber attacks have …

Testing of EU Banks’ Cyber Defenses Needs Common EU Approach: Official

European Union countries should test bank defenses against cyber attacks using a common set of requirements, a senior EU official said on Tuesday, as the bloc plans measures to boost the retail market for financial products. Cyber attacks against banks …

UK Suspect Arrested in Deutsche Telekom Cyber Attack

British authorities have arrested a suspect in connection with a cyber attack that infected nearly 1 million routers used to access Deutsche Telekom’s internet service, German federal police said on Thursday. Britain’s National Crime Agency detained the 29-year-old Briton at one of …