New rules will be needed to deal with operational risks from banks relying on outsourced “cloud” computing from Amazon, Google, Microsoft and others for providing services to customers, the Bank of England said on Friday. “Regulated firms will continue to …
Banks are increasingly turning to insurance to protect their capital from “operational risks” like cyber attacks and rogue traders, and insurers say they can help safeguard lenders by providing an extra layer of expertise. After a spate of expensive court …
Ironshore’s U.S. Specialty Casualty unit has launched a new coverage option for U.S.-based companies with overseas operational risk exposure. Ironshore International Connect will provide excess casualty coverage for U.S. companies’ overseas operations on a locally-admitted basis, which is designed to …
