All Cyber attacks articles
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Alta Signa: CFO deepfakes highlight urgency for cyber risk mitigation
As cyber threats evolve, insurers and reinsurers should prioritise the dissemination of technical risk mitigation expertise to policyholders, writes Mauro Marongiu, Alta Signa’s technical head of cyber underwriting.
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Global risks and perceptions intertwined – Interview with Zurich’s head of sustainability risk
Global tensions are rising, but risk perceptions are in the eye of the beholder. Zurich’s John Scott discussed the big picture with Global Reinsurance.
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Howden names Bayon de La Tour as its new international cyber leader
The broker’s new international head of cyber will be based in Spain and was formerly head of cyber for Marsh Europe.
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Ransomware attacks break records, up 95% in 2023 – Corvus
Law practices, government agencies, manufacturing, oil and gas, transportation, logistics and storage sectors were among the sectors hardest hit by a record-breaking spike in ransomware attack frequency.
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Lloyd’s reveals global economy exposed to $3.5trn major cyber attack
A systemic risk scenario from Lloyd’s focused on “a hypothetical but plausible cyber-attack”, with the US, China and Japan hardest hit.
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Global cyber market rockets in value - Guy Carp study
A Guy Carpenter report reveals more than three-fold increase in cyber insurance market value in four years, and models one-in-50 and one-in-200-year event cyber loss scenarios, topping out at a $33.4bn estimated potential market loss.
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Energy storage market has invisible cyber risks – Aon
The broker warned that a lack of robust cyber-security for critical operational technologies may be a weakness for battery storage risks being underwritten.
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Cyber MGA Intangic launches with AXA XL-backed parametric policy
The policy has two triggers: the level of malicious activity targeting a company, and a subsequent loss in value
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Brit increases cyber consortium capacity by 50%
The product is designed to protect clients from the impact of physical damage arising from cyber-attacks
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Chaucer in partnership to insure trade secrets
Risk transfer solutions for intellectual property will help a trade secret protection ecosystem to develop
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Beazley reveals 13% rise in cyber fraud claims
Organisations must get smarter about educating employees to spot fraudulent tactics
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Industry’s first cyber cat bond to ‘unlock’ market potential
The $45m bond gives Beazley protection against all perils in excess of a $300m catastrophe event
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Three ways of increasing cyber insurability - sigma
There is currently a protection gap of around 90% due to the uncertain nature of systemic risk
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Lloyd’s finds ‘no evidence of any compromise’ following suspected cyber attack
The market has been advised that it can now restore its network services
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Lloyd’s of London resets systems following potential cyber attack
The international insurance marketplace detected ‘unusual activity’ on its network
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(Re)insurance sector can no longer ‘waste time’ when it comes to tackling systemic risks – PWC
Finding industry-wide ways to deal with systemic risks is ‘not an urgent task’ the (re)insurance sector has so far undertaken – but this needs to change, says PWC partner
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Lloyd’s sets cyber policy exclusions for state-backed attacks
Managing agents must show that exclusion clauses have been legally reviewed
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Cyber: Banning ransoms is a ‘blunt policy instrument’
A ban could encourage ransomware attackers to engage in new, more malicious forms of extortion, warns Geneva Association
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Lloyd’s warning over state-sponsored cyber attacks
Cyber attacks targeting critical infrastructure rose from less than 10 in 2013 to almost 400 in 2020
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Systemic fears are stifling cyber market growth
Modelling accumulation risk scenarios will unlock cyber re/insurance potential - Swiss Re