In this role, Mr. LaRocca will be responsible for managing the strategy, development and performance of the company's Property & Specialty Lines portfolio.Learn more
In this role, Mr. Codding is responsible for overseeing cyber and technology underwriting guidelines, rating methodology, distribution relationships, product sales and new product development.Learn more
With rising cyber-crime highlighting vulnerabilities in digital dependency and the efforts by policymakers to establish frameworks to protect the rights of individuals and business, digital security awareness and resilience is one of the highest priority items on all agendas.Download
Cyber threats are evolving rapidly. Recent high-profile cyber-attacks demonstrate that the extent of associated possible losses is also broadening, increasingly comprising both physical and financial damage.Learn more
How often has your data been hacked? Have you received a notice from your bank recently about suspicious transactions? Have youalready adapted to the “new reality” of data (in)security?
Although the topic of cyber security is much broader than the data breach example, the media focus is usually on data breaches, which occur at a much higher frequency than other cyber events. Because
data breaches also, so far, generate most of the cyber-related insurance claims, we limit the scope of this publication to those types of events.
This publication written by Elena Jelmini Cellerini and Christian Lang looks at the consequences of a data breach in Europe
and compares the situations in Europe and the US with regard to the
major features of such an event. It provides a snapshot of where the
discussion stands at the beginning of 2017, about one and a half years
before the new European General Data Protection Regulation (GDPR)
will come into force. Watching the case law developing, in particular in
the UK which has taken some landmark decisions in this area, is also
an indicator for where Europe seems to be heading. The UK intends to
implement the GDPR in spite of Brexit.
Cyber threats are evolving rapidly due to the growing digital transformation of society, the widespread use of internet-enabled devices and processes, and the changing profile of hackers. Recent high-profile cyber attacks demonstrate that the extent of associated possible losses is also broadening, increasingly comprising both physical and financial damage relating to data privacy breaches and to companies’ tangible and intangible assets, and also business interruption costs. As a result, the issue of cyber protection is rising up the corporate agenda, at both large and small
On 15 August 2012, Saudi Aramco, the state-owned group that runs all of Saudi Arabia’s oil production, suffered a virus attack that damaged approximately 30,000 computers by malware infestation and destroyed 85% of the hardware on the company’s devices. The virus, called ‘Shamoon’, did not just target Saudi Aramco as an entity; it attacked the country's entire economy.Learn more
Edward Snowden is a well-known hacktivist. He disapproved of what was happening in the National Security Agency (NSA) so he leaked confidential information in protest. Elsewhere Sony Pictures Entertainment was subjected to a high-profile cyber-attack, presumably because it wanted to release a film about a national dictator who perhaps takes himself more seriously than Sony realised.Learn more
Cyber risks result more from human behaviour than technological faults. There are many ways in which a person can do the wrong thing - lack of training, poor communication, unclear role definition, deliberate misconduct… However, they all stem from two root causes: employee error or internal sabotage.Learn more
Tim Berners-Lee, the founder of the internet, is a great supporter of unrestricted access for everyone. He has said in the past that ISPs should supply “connectivity with no strings attached”. This is understandable, after all the “three As” are what make the internet so special: information available to all, any time and any place.Learn more
As the frequency of cyber-attacks grows, they are bound to cause higher losses. The Ponemon Institute based in the US, claims that the average price for a small business to clean up after a hacking incident is USD 690,000, rising to over USD 1,000,000 for mid-size companies. The growth of interconnectedness is set to increase this figure further.Learn more