cyber risk News

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 …

Guy Carpenter Examines Emerging Risks Impact on the Reinsurance Industry

Cyber, technology and casualty catastrophe and reserving are three key risks affecting property/casualty insurers that continue to emerge, according to Guy Carpenter & Company, a wholly owned subsidiary of Marsh & McLennan Companies. In a new report published this month, …

Power Grid Attack Could Cause $1T Economic, $70B Insurance Losses

A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water supplies and transportation, and potentially more than …

Latest Travelers Business Risk Index Reveals Increased Worries About Cyber Threats

Cyber risks, medical cost inflation, and legal liability are among the top concerns for American businesses of all sizes, according to results from the second annual Travelers Business Risk Index. The survey polled more than 1,200 business decision makers across …

ACE Provides Roadmap of Cyber Risk Evolution

Cyber attacks and data breach triggers are changing as are the risk management strategies to address them, according to ACE Group. The company released the changes and their impact on forensics costs. “Our claims and underwriting data demonstrates that the …

RIMS Report: Insurance Gamechangers Include Cyber, Talent, Data

Protecting clients against growing and poorly understood risks associated with information technology system failures is a leading concern of the insurance industry today, a group of underwriters and brokers told risk managers this week. Along with cybersecurity, the insurance professionals …