cyber risks News

Sustainable Re/Insurance Industry Vital in Uncertain World: Swiss Re’s Ojeisekhoba

Following Hurricane Katrina in 2005, former U.S. Vice President Al Gore described it as “the first taste of a bitter cup that will be proffered to us over and over again.” That devastating event killed more than 1,800 people and …

Chubb Enhances Global Cyber Incident Response Management Capabilities

Chubb announced that it has enhanced its cyber incident response management capabilities and launched two new ways of accessing the service: a mobile application and a dedicated website. As the threat of cyber risks facing commercial enterprises increases, Chubb has …

Most Global Organizations Fail to Learn from Cyber Mistakes: WTW Survey

A majority of executives around the world feel their organizations can do better when it comes to learning from their past cyber mistakes, according to the results of a global survey conducted by The Economist Intelligence Unit (EIU) and Willis …

AXIS Launches Cyber Center of Excellence to Help Mitigate Cyber Risks

AXIS Capital Holdings Ltd. has launched the AXIS Cyber Center of Excellence, which aims to provide commercial insurance products and solutions for mitigating cyber risks. The AXIS Cyber Center of Excellence is intended to address the more than $445 billion …

Barbican Launches Cyber Resilience Product Called ‘One-Step-Ahead’

Barbican Insurance Group announced the launch of a product partnership with two cyber risk management specialists to help insureds assess and improve their cyber resilience. Called Barbican Cyber “One-Step-Ahead” (OSA), the product encompasses three critical areas of cyber resilience: cyber …

SEC Sides with New York Comptroller in Express Scripts Cyber-Risk Spat

New York State Comptroller Thomas DiNapoli scored a victory against Express Scripts Holding Co. in his push to force increased disclosures of the firm’s efforts to mitigate cyber risks. The prescription-benefits manager must include DiNapoli’s proposal in proxy materials this …

Number, Complexity of Cyber Attacks Rising: Dutch Intelligence Agency

Attempts at digital espionage and online political manipulation in Europe are on the rise both in number and in complexity, the Netherlands’ main intelligence agency said Tuesday [March 6] in its annual report. Adding its voice to fears around the …

WEF Helps Create Fintech Cyber Security Consortium; Members Include Zurich, Citigroup

The World Economic Forum has led the creation of an industry consortium focused on improving the cyber security of financial technology companies, as collaboration between fintechs and financial institutions grows. The consortium’s founding members include Citigroup Inc, online lender Kabbage, …

SMEs Need to Ready for Cyber Battle: Endeavour’s Loizides

A classic mistake made by many small and medium sized enterprises is to assume that they are immune from cyber attacks because hackers and fraudsters have bigger fish to fry. As a result, SMEs can be under-prepared in the face …

Pool Re Extends Retrocession Program to $2.9B with Cyber Terrorism Now Covered

Pool Re announced it has renewed its retro program and extended the cover to include material damage and direct business interruption (BI) caused by acts of terrorism “using remote digital interference.” The renewed cover, brokered by Guy Carpenter, has been …