Tag Archives: cyber risk

Insurance, behavior and reputation: What happens when aviation meets insurance

airplane landing

While insurance and risk reduction are almost always worth the investment, there is no silver bullet. Effective risk management requires an altogether deeper understanding of the risk, based on data and observation. Continue reading →

New risks in leisure and hospitality

hot rolls on an assembly line

Asking the right questions about your policies and practices is essential to prepare you for virtually any possibility. And having the right risk management in place to mitigate against changing risks can help you face an uncertain future with greater certainty. Continue reading →

Boards of directors must increase scrutiny, oversight of cyber defenses: Here’s how they can do it

Man with a laptop looking at computer servers in a server room

If an organization is proactive after a cyberattack, an opportunity arises. Presented with new information about what worked and didn’t, the board has a chance to strengthen the organization’s risk culture and defenses. Continue reading →

Silent cyber risk: Insurers must try harder

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

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 →

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

Close up of caution tape over a rail

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?

man sitting at a desk in an office looking at a laptop

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 →

Recent nation state cyberattacks: What they mean, and how to respond

man talking on a phone and looking at a tablet

On April 17, 2018, the U.K. and U.S. governments issued an unprecedented statement calling out Russia as the originator of cyberattacks on businesses and public sector organizations during 2017. According to the statement, routers — the devices that direct traffic … Continue reading →

The risks and challenges of silent cyberinsurance

close up of a man looking at a computer screen

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 →