Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
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...
Tesco Reveals $3M Was Stolen from 9,000 Customers in Recent Cyber Bank Theft
Nov 9 2016 // Retailer Tesco Plc’s banking arm said on Tuesday that 2.5 million pounds ($3 million) had been stolen from 9,000 customers over the weekend in what cyber experts said was the first mass hacking of accounts at a...
Markel International Taps Beazley’s Maher for U.S. Cyber Market in London
Nov 8 2016 // Specialist insurer Markel International has appointed Andrew Maher as senior underwriter, emerging risks, within its specialty and financial lines division. Maher’s focus will be on further development and expansion...
Ransomware Attack Freezes Indiana County’s Computers
Nov 8 2016 // A so-called ransomware attack has left police, fire and other government staff in a central Indiana county locked out of their computers. Madison County Commissioner Jeff Hardin tells The Herald Bulletin the county’s...
Tesco Bank’s Cyber Attack Investigated by UK’s National Crime Agency
Nov 8 2016 // Britain’s National Crime Agency (NCA) is leading a criminal inquiry into the theft of money from thousands of Tesco Bank accounts that the UK financial watchdog said was unprecedented. New cyber crime agency National...
Connecticut’s Business Risk Partners Hires Bizzoso and Landaverde
Nov 8 2016 // Business Risk Partners (BRP), a specialty underwriter and program administrator based in Windsor, Conn., hired Greg Bizzoso as an E&O product manager and team leader for miscellaneous professional liability (MPL) and...
Recent Cyber Attacks Reveal Dangers, Vulnerabilities of Internet of Things
Nov 8 2016 // Recent cyber attacks harnessing everyday devices such as cameras, video recorders, printers, routers and speakers are a wake-up call to the hidden dangers of the Internet of Things. The problem for the device makers,...
Aon Launches Cyber Risk Mgmt Solution in Response to EU Data Protection Law
Nov 8 2016 // Aon plc has launched a risk management solution designed to help organizations prepare for a new data protection law due to come into force on May 25, 2018. The law, known as the EU General Data Protection Regulation, or...
Cyber Criminals Steal Money from Nearly 20,000 Customers of UK’s Tesco Bank
Nov 7 2016 // Tesco Bank, the lending arm of the U.K.’s biggest grocer, said it suspended online transactions after about 20,000 customers had money fraudulently taken from their accounts. About 40,000 of the bank’s 136,000...
China Passes Controversial Cyber Security Law Despite Foreign Business Concerns
Nov 7 2016 // China has green-lit a sweeping and controversial law that may grant Beijing unprecedented access to foreign companies’ technology and hamstring their operations in the world’s second-largest economy. The Cyber...
Cyber, Risk Management & Claims for Accountants’ Liability
Nov 7 2016 // The environment for accountants’ professional liability (APL) insurance programs continues the trend of the past few years of both expansions in coverage and risk management with many programs. The market is also...
Willis Towers Watson Launches Cyber, Fidelity Coverage for Financial Institutions
Nov 4 2016 // Willis Towers Watson has launched CyFI, or “cyberinsurance and fidelity,” for financial institutions that addresses coverage gaps between cyberinsurance policies and fidelity bonds. As financial institutions...
Tennessee Man Gets 4-Year Sentence in Illinois for Cyberattacks
Nov 4 2016 // A Tennessee man has been sentenced to nearly four years in prison for a series of cyberattacks on businesses, universities and governments. Federal prosecutors in Chicago say 22-year-old Timothy Justen French of...
Lloyd’s Innovation Awards Go to Aon, Beazley, Cromar, Hiscox, Tokio Marine Kiln
Nov 3 2016 // Lloyd’s of London recently announced the winners of its 2016 Innovation Awards. Beazley, Cromar, Hiscox and Tokio Marine Kiln each picked up awards for innovative products or new ways of working. Aon won most...
Aon Risk Solutions Completes Acquisition of New York-Based Stroz Friedberg
Nov 2 2016 // Aon Risk Solutions, the global risk management business of Aon plc, has completed its acquisition of Stroz Friedberg Inc., a global risk management firm based in New York City. Financial terms were not disclosed. This move...
Corporations Have ‘Alarmingly High’ Failure Rate with Their Cyber Defenses: Accenture
Nov 2 2016 // About one-third of targeted attempts to breach corporations’ cyber defenses succeed but three-quarters of executives remain unaccountably confident in their security strategies, Accenture Plc. reported Wednesday in a...
China’s Controversial Cyber Security Law Progresses Despite Foreign Protests
Nov 1 2016 // A controversial Chinese cyber security law that has sparked protests from foreign governments and business groups neared approval on Monday as parliament held the third reading of the draft bill. The official Xinhua news...
Cyber Insurance Purchasing Slowing After 6 Years of Fast Growth
Nov 1 2016 // The overall upward trend of organizations purchasing cyber insurance continued in 2016, however there are signs the market is slowing after six years of rapid growth. A 2016 Zurich Insurance-Advisen survey shows that over...
UK to Boost Cyber Security Defenses with £1.9B Investment
Nov 1 2016 // Britain will boost its cyber security defenses with a 1.9 billion pound ($2.32 billion) investment due to be announced by Finance Minister Philip Hammond later on Tuesday, a statement from the Treasury said. The new...
