Tag Archives: cyber risk management

Claims against directors for failure to insure against cyber risk are more likely now

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You would have thought it would be a good idea to have a complete answer to a data breach claim. Not so. That was the surprising (to some) outcome of a recent Court of Appeal decision claim in a case … Continue reading →

Silent cyber risk: Insurers must try harder

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Remember this? “The PRA expects that all Solvency II firms robustly assess and actively manage their insurance products with specific consideration to non-affirmative cyber risk exposures. This includes all property and casualty (P&C) covers which could give rise to cyber … Continue reading →

The Network Information Systems Directive and the requirement on directors to get a little more technical

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Chances are you’ve heard about the GDPR (General Data Protection Regulation), but how about its lesser known cousin, the Network Information Systems Directive (NIS Directive)? This came into force in the U.K. on May 10, 2018, through the Network Information … Continue reading →

Three key steps for addressing cyber risk in the construction industry

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Virtual reality and artificial intelligence are becoming integral parts of the construction industry. But with its widespread adoption comes new risks that call for a more sophisticated approach to risk management. It’s the phone call no contractor wants to receive … Continue reading →

GDPR requirements for breach notification: Are you prepared?

Man in a dress shirt and tie looking at a computer monitor in a darkened office with colleague working behind him

Just how are companies responding to Article 33 of the Global Data Protection Regulation (GDPR), requiring 72-hour notice of a data breach to EU supervisory authorities? And how are the EU data protection authorities viewing compliance? “The loss of personal … Continue reading →

Midyear update: Most dangerous risks for insurers in 2018

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In January, we wrote about 2018’s most dangerous risks for insurers, highlighting what more than 200 insurance managers cited as the top 10 risks to watch for the year. Now that we’re midway through 2018, it’s time to take a … Continue reading →

Want to create a cyber-resilient organization? Start with your board of directors

Man holding a laptop while looking at servers with a female colleague. Both have security badges around their neck

No company — regardless of size or stature — is immune from cyberattack. Given their pervasiveness, it’s no longer enough to have a thorough, carefully constructed plan to mitigate against cyber risk. The thinking “It won’t happen to me because … Continue reading →

Should banks require commercial lending customers to have cyberinsurance?

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In light of increasingly prevalent and highly publicized data breaches, the Federal Financial Institutions Examination Council (FFIEC) recommends that banks require commercial lending customers have cyberinsurance to supplement existing risk management programs. The FFIEC’s statement isn’t a regulatory expectation, but … Continue reading →

The risks and challenges of silent cyberinsurance

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You hear a lot about cyberinsurance these days and the need for it, and judging by how busy my cyber colleagues are, there’s no sign of an end to demand any time soon. Less is heard though about the so-called … Continue reading →