cyber risk management News

Beazley Launches Affirmative Marine Cyber Cover

Specialist insurer Beazley has created a marine cyber insurance product to meet the rapidly developing needs of vessel owners and operators. Should a cyber incident impact a vessel’s operational capabilities, “Beazley Cyber Defence for Marine” provides insurance for physical damage …

CNA Hardy Enhances Cyber Proposition for UK Clients

CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced significant enhancements to its cyber proposition with a new pre-breach service and additional coverages. “Our latest cyber proposition reflects the changing risk environment. Technology …

Norsk Hydro Cyber Attack Cost It Nearly $52M in First Quarter

Norsk Hydro said the March cyber attack that paralyzed its computer networks would cost the aluminum maker up to 450 million Norwegian crowns ($52 million) in the first quarter. The Oslo-based firm, one of the world’s largest producers of the …

Brit Ltd. Enhances Physical Damage Cyber Offering, Increasing Flexibility and Limits

Brit Ltd., the London-based specialty insurer and reinsurer, announced it has increased the flexibility and limits of Brit Cyber Attack Plus (BCAP), a cyber product designed to protect clients from the impact of physical damage arising from cyber attacks. Launched …

Government, Businesses Must Work Together to Safeguard Internet: British Spy Chief

The head of Britain’s GCHQ spy agency on Wednesday will call on businesses and the finance sector to work with intelligence officials to help secure the internet and protect customers online. In extracts of a speech to be given at …

Some Passwords to Avoid: Team Names, Fictional Characters, Pop Stars and ‘123456’

British football fans should be wary of rooting for their team by making them a password. Liverpool, Chelsea, Arsenal, Manchester United and Everton are all passwords that have been compromised hundreds of thousand of times, according to research published by …

When Cyber Attack Hit Norsk Hydro, It Was Already Handling a Major Upheaval: RMS

When Norsk Hydro, one of the world’s largest aluminum producers, was hit by a major cyber attack in the early hours of March 19, it was already undergoing a major upheaval: just the day before the attack, the company’s long-standing …

Norsk Hydro Returns Major Production Division to 60% of Capacity After Cyber Attack

Norsk Hydro, one of the world’s largest aluminum producers, said on Monday one of its major divisions was back up to 60 percent of capacity after a cyber attack earlier in March. The cyber attack forced the company to shut …

Cyber Insurance Specialist, CFC, Comments on Lessons of Norsk Hydro Cyber Attack

Norsk Hydro, one of the world’s largest aluminum producers, is still struggling to return to full production, after a ransomware attack shut down its operations on Monday. “We are continuing to make progress towards a resolution, but the situation remains …

Norsk Hydro Unit Begins Operating at 50% of Capacity After Cyber Attack

Norsk Hydro, one of the world’s largest aluminum producers, said a key unit is operating at only 50 percent of capacity following a cyber attack on the company this week. “Extruded Solutions is working hard to enable further restarts during …