Lloyd’s of London has called for clarity on cyber insurance policies from insurance and re-insurance providers. To make it clear whether policies will pay-out or not in the event of a cyber-attack. Saying that it was in the interest of…
I’m coming to the opinion that the cyber insurance market is currently a bit of a paradox. The cyber insurance market is on the rise. But the regulator is asking for clarity on the market exposure to cyber. The global…
Cyber insurance is one risk transfer mechanism. But it won’t protect you from failure to comply to regulation, or the fines of failing to comply. View Original Post
An interesting article on cyber insurance. With underwriters saying they need more data to accurately model and underwrite the risk. In my opinion cyber risk bares no relation to most traditional insurance risks. Cyber is systemic in nature, the speed,…
I’m not convinced there is a viable back stop that governments or insurers could afford and the last time a meaningful government backstop was used it bailed out the banks in 2008. The Bank of England has raised concerns that…
There have been a few hacks on Universities globally, stealing PII and IP. Including a recent attack on the national University in Canberra, which lost a significant amount of data. Australia’s auditor general finds significant security issues across the countries…
An interesting paradym about cyber security. Customers simply don’t care enough about it and until they do and start complaining it wont bring around change. Until it becomes a business issue things wont change. But I do see movement, with…
Have your messages been safe when using WhatsApp, doesn’t look like they have. Following this release from the company, reported by the BBC. The report claims that it may have been a private firm, working for a government. Using VOIP…
The cost of the ransomware at Norsk Hydro was $52Mn in the first quarter. If I read this correctly, the attack took place around the 19th of March that’s about 2 weeks before the end of the quarter. Their cyber…
An interesting article which raises several questions relating to cyber insurance. It contains some great content links which look at the question of, is cyber risk an insurable risk. It raises some interesting questions, with the regulatory landscape enforcing cyber…
