cyber risk News

P/C Insurer Software Provider Guidewire to Acquire Data Science Firm Cyence

Guidewire Software Inc., a provider of core operations software to property/casualty insurers, has agreed to acquire Cyence, a data science and risk analytics software company. Guidewire will pay approximately $275 million in cash and stock. Cyence applies data science and …

Risk of Attack Higher Because of China’s Fondness for Pirated Software

China’s fondness for pirated software left it especially vulnerable to the latest global cyberattack. Beijing has tolerated rampant use of unlicensed software copies despite repeated promises to crack down and warnings by industry groups that China is leaving itself open …

Businesses Face Evolving Cyber Risk

Though several factors affect a firm’s cyber risk, people remain the critical vulnerability, according to Scott Stransky, assistant vice president and principal scientist with AIR Worldwide. In an audio interview with Claims Journal, he explained the evolving risk and what …

Assurant: Smart Home Hacking Risks Concern Consumers

Consumers are excited by the progression toward ‘connected living’ and the many ways connected technologies can improve their lives, according to a new study by Assurant, Inc. However, the study, unveiled today at the 2017 Consumer Electronics Show, also showed …

QBE: Many Risk Factors to Consider When Choosing Suppliers

Location, energy sources and data protection are among some of the risk factors businesses need to consider when selecting a supplier, according to QBE North America, an operating division of global insurer QBE Insurance Group Limited. The insurer released a …

Cyber Terrorism a Major Concern for U.S. Businesses

U.S. businesses focused on addressing crisis management in the event of an on premise terrorist attack may be leaving their information systems vulnerable to a cyber attack. According to The Global Risks Report 2016, compiled through a strategic partnership between …

Lack of New Employee Training Can Impact Businesses’ Cyber Risk

Organizations experiencing data breaches are judged by their employees as lacking a learning culture and failing to put the customer at the center of business activity, according to a new analysis from global advisory, broking and solutions company Willis Towers …

Business News

AIR Releases Industry’s First Open Source Cyber Scenario Catastrophe modeling firm AIR Worldwide announced it has released the industry’s first open source deterministic cyber risk scenario. AIR plans to release a series of deterministic cyber scenarios over the next 12 …

New Risks Impacting E & O Claims

Cyber risk is just one of the factors impacting errors and omissions claims, according to panelists at the American Bar Association’s annual Tort Trial & Insurance Practice Section’s Insurance Coverage Litigation Committee. Because of a convergence of new risks facing …

Travelers Consumer Risk Index: Cyber Threat Concerns Continue to Rise

More people than ever are concerned about cyber threats, according to the latest Consumer Risk Index released by Travelers. The third annual index of 1,029 survey respondents found that cyber-related concerns grew by more than 20 percentage points from last …