Two U.S Congressional Committees are reviewing the Swedish-Swiss engineering Group ABB, investigating security threats and risks posed China. ABB sells control and electrification equipment to Chinese companies, which sells cranes directly to U.S ports. ABB released a statement on Friday…
An interesting article on retrocession insurance, as Swiss Re purchases the cyber market’s first retrocession industry loss warranty (ILW). The $50million ILW would appear to be a toe in the water for reinsurance, as the amount is not significant. But…
The scale of activity across JP Morgan’s infrastructure is reported to be around 45 billion transactions a day. That is a significant number and demonstrates the complexity of managing technology and cyber risk. Demonstrating why JP Morgan is reported to…
Some threats are predicated, some threats are present. Rising geopolitical tensions, environmental action and AI are risks facing boards. A risk that is not discussed in depth is the risk that boards face from cybersecurity risk management regulation in the…
It has taken time, we have watched the cyber risk needle swing left and right. We are now seeing the needle swing fully in the direction of cyber risk, as Allianz reports that cyber is the top business risk for…
This an important read and development for cyber insurance and re-insurance. Munch Re one of the worlds largest cyber reinsurers has long discussed its role in cyber insurance, being prepared in 2023 to ‘Give up the cyber business over accumulation…
We hear allot about how the cyber insurance market is going to grow over the coming years. Yet growth requires significant amounts of liquidity to facilitate it. Liquidity that is often left out of the conversation when one hears about…
Unlike accounting, audit, law, engineering or medicine professions, to practice in the field of security you are not required to demonstrate membership of a professional institution. You can be the head of cyber for a $multi-billion business and have no…
The audit industry has had a tough time. While £33 million in fines may not sound allot for some jurisdictions, it demonstrates that the Financial Reporting Council (FRC) is taking oversight, assurance and attestation of financial reporting seriously. Bringing actions…
One wonders how long it will take for investment funds to realize that cyber is a bigger problem than ESG? ESG performance has not demonstrated the effect on corporate performance, that cyber seems to (credit risk, market risk, operational, strategic,…
