Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Talbot Underwriting Beefs Up Cyber Offering, Hiring ANV’s Mayes & Anderson
Dec 5 2016 // Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., has appointed a dedicated team of cyber underwriters. Phil Mayes joins the team as senior class underwriter, and Gillian Anderson joins the team...
Task Force Submits Cybersecurity Recommendations to North Dakota Governor
Dec 2 2016 // A state task force on capital cybersecurity has submitted its recommendations to North Dakota Gov. Jack Dalrymple. Topics in the report include improving monitoring and scanning of the state’s information technology...
Audit Hits Regulator for Not Testing Brokerage Firms’ Cyber Security Policies
Dec 2 2016 // The U.S. Commodity Futures Trading Commission failed to verify whether futures and swaps brokerage firms have adequate policies to help ward off cyber attacks, an internal CFTC audit found. The audit was completed in...
What Executives Need to Know About Managing D&O Liabilities: Allianz Report
Dec 2 2016 // Company directors and senior managers across the globe are increasingly likely to face costly regulatory investigations, criminal prosecutions or civil litigation, which not only put their company’s assets, and their...
Bank of England Beefs Up Cyber Resilience Tests for UK Banks After Tesco Hack
Dec 1 2016 // The recent theft of money from accounts at retailer Tesco’s online banking arm caused the British authorities to enact contingency plans to allow lenders to share information after the attack, the Bank of England...
Most Organizations Not Adequately Prepared for Cyber Attacks: Marsh & McLennan Cyber Handbook
Nov 30 2016 // No company is fully secure from cyber breaches, no matter how sophisticated its cyber defense mechanisms, which is why every company should develop a cyber risk management strategy, according Marsh & McLennan’s...
Central Indiana County’s Hacked Computer System Taking Weeks to Restore
Nov 29 2016 // Workers have spent weeks restoring a central Indiana county government’s computer system that was hacked by an unknown group demanding a ransom payment. Madison County officials decided to pay the undisclosed ransom...
Cyber Risk Awareness Rises Among SMEs: Zurich Survey
Nov 29 2016 // One way to reduce cyber risks is to boost awareness of them. In that regard, Zurich Insurance Group says, there has been big progress in terms of getting the word out among small and medium-sized businesses. At the same...
Emerging Markets to Drive Insurance Sector Growth in 2017: Swiss Re
Nov 28 2016 // The global economy is expected to grow moderately over the next two years, supporting continued growth in insurance premium volumes, according to a Swiss Re report. Growth in global non-life premiums is forecast to fall...
Hackers Remotely Steal ATM Cash in Latest Twist on Cyber Bank Heists
Nov 22 2016 // Cyber criminals have remotely attacked cash machines in more than a dozen countries across Europe this year, using malicious software that forces machines to spit out cash, according to Russian cyber security firm Group...
W. R. Berkley Forms Cyber Risk Unit with Chubb’s Vispoli at Helm
Nov 21 2016 // W. R. Berkley Corp. announced the formation of Berkley Cyber Risk Solutions. The new organization will offer specialty commercial insurance coverages on a worldwide basis to clients of all sizes on behalf of W. R. Berkley...
People
Nov 21 2016 // Former long-time Chubb executive Dino E. Robusto assumes the roles of CNA chairman and chief executive officer on Nov. 21, succeeding Thomas F. Motamed, who is retiring after eight years in those positions. The succession...
Michigan Utility Cyber-Ransom Attack Response Totals $2.4 Million
Nov 21 2016 // Officials say the Lansing Board of Water & Light in Michigan paid a $25,000 ransom to unlock its internal communications systems after they were disabled in the spring by a cyberattack. General manager Dick Peffley...
How Smart Building is Changing Construction
Nov 21 2016 // With “smart” building becoming the gold standard in today’s commercial construction world, builders, building owners, workers and insurers are dealing with new technologies and risks. These smart...
Cyber Sales Slow Down
Nov 21 2016 // For many years, cyber liability has been the hot opportunity for new sales. But that may be over, or at least the pace of sales seem to be slowing. The overall upward trend of organizations purchasing cyber insurance...
Fintech Firms Alibaba, Tencent Support China’s New Cyber Law Despite Foreign Opposition
Nov 18 2016 // China’s Alibaba Group Holding Ltd. and Tencent Holdings Ltd. rallied behind Beijing’s recently imposed cyber security law on Thursday, following criticism of it from overseas technology rivals. The...
The Right Cyber Coverage Can Protect a Business from Financial Ruin
Nov 16 2016 // A recent report on cybersecurity still shows many companies are unprepared for cyberattacks. The report, conducted by KPMG and British Telecom, reveals only 22 percent of companies have a comprehensive plan in place to...
QBE Expands Commercial Products to Include Cyber, Data Compromise Coverage
Nov 14 2016 // QBE North America, an operating division of global insurer QBE Insurance Group Limited, has launched CyberOne and Data Compromise, an expanded suite of products and services designed to help protect small to medium-sized...
Michigan Utility Paid $25,000 Ransom After Cyberattack
Nov 14 2016 // Officials say the Lansing Board of Water & Light in Michigan has paid a $25,000 ransom to unlock its internal communications systems after they were disabled in the spring by a cyberattack. General manager Dick Peffley...
China’s Cyber Security Law Could Hamper Foreign Business: P/C Industry Reps
Nov 9 2016 // China’s new wide-ranging cyber security law is drawing some serious apprehension from the U.S. property/casualty insurance industry. Trade associations and experts alike caution that it will create business obstacles...
