March 27, 2025
Hannover Re has renewed a cyber catastrophe bond that provides $20 million worth of retrocessional protection against the accumulation of losses caused by a sustained cloud-outage event during 2025-2026. Cumulus Re II is 45% larger than the first iteration of …
October 11, 2021
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 …
August 27, 2021
Microsoft on Thursday warned thousands of its cloud computing customers, including some of the world’s largest companies, that intruders could have the ability to read, change or even delete their main databases, according to a copy of the email and …
August 23, 2019
Two U.S. lawmakers have called on a top financial regulatory panel to consider direct oversight of the cloud services big tech companies provide to banks, saying they have become a critical component of the global financial system. In a letter …
January 23, 2018
A cyber problem that temporary shuts down a top U.S. cloud computing provider could trigger as much as $19 billion in business losses, only a fraction of which would be insured, Lloyd’s of London said in a report on Tuesday. …
April 24, 2017
Alibaba Group Holding Ltd. Chairman Jack Ma said society should prepare for decades of pain as the internet disrupts the economy. The world must change education systems and establish how to work with robots to help soften the blow caused …
September 15, 2015
Alibaba Group Holding Ltd.’s finance arm is strengthening its foothold in the insurance business with plans to invest about 1.2 billion yuan ($188 million) in a Chinese unit of Cathay Financial Holding Co. Zhejiang Ant Small & Micro Financial Services …
July 30, 2015
Cloudsurance has launched a cloud insurance program designed for modern cloud consumers. Cloudsurance is a cloud insurance program designed for cloud consumers and can help mitigate against the inherent risks of cloud computing, such as downtime, data loss and cyber-attack …
July 15, 2015
Jardine Lloyd Thompson (JLT) Australia, a subsidiary of the London-based insurance, reinsurance and employee benefits firm, has deployed NetSuite OpenAir cloud professional services automation (PSA) solution to run the entire business life cycle of its consulting practice, according to a …
June 25, 2015
RMS, the Newark, Calif.-based catastrophe risk management firm, announced it has named Sanjiv “Sunny” Sharma as senior vice president of cloud operations and information technology. Sharma joins from Rocket Fuel, a digital advertising firm, where he led the global engineering …