Is the threat moving from extortion and fraud to asset destruction. As geopolitics moves cyber up a gear, hackers will change their focus as ransomware payments drop, cyber insurance is less effective and regulations push cyber risk management onto the…
CISA must publish cyber incident reporting to enact the Cyber Incident Reporting for Critical Infrastructure Act, and address the historic voluntary approach taken for cyber incident declarations. But industry has been pushing back, raising concerns about declaring sensitive incident information…
This is by far the best synopsis I have read of the cyber insurance market and the challenges insurers face. The article reviews the book by Professor Josephine Wolff Cyber insurance Policy: Rethinking Risk in an Age of Ransomware, Computer…
Thank you for sharing Alexander Rae ACII. Both the insurance industry and those clients it insures are unprepared when it comes to cybersecurity. When one considers the regulatory requirements planned, especially the focus on risk management, the adoption of cloud…
Thanks for posting Ted Dziekanowski. A 100% jump in nation state attacks (20% to 40%), is no small increase measured by Microsoft. Albeit a jump as Russia targeted Ukrainian and Western Allies infrastructure and to gain intelligence. 90% of Russian…
Will the recent Zurich Mondelez settlement make things harder for insurers and the insured? While insurers may not be off the hook for Not Petya payments, there will be a continued realignment of policy exclusions and reduced coverage. As an…
Gerry Kennedy I wonder who has thought about the legal, compliance and insurance implications of doing this? If the NCSC finds a vulnerability and fails to report it. #cybersecurity #cyberriskmanagement #cyberinsurance #theaugustagroup View Original Post
An interesting read about the insurance industry. Along with a rise in interest rates and talk of a recession, insurers may have to take a look at their services. As insurers costs rise, their premiums rise, at a time when…
Deloitte has removed members of its UK leadership team from their posts, at a time of increased revenues and partner pay. Key figures from its risk and consulting business’ are departing their roles in the ‘refresh’, that begs the question…
Ransomware has been top of the list for a few years, Allianz suggests that it is expected to cause $30Bn in damages in 2023. I’d suggest that this figure is light, given the impact of Not Petya in 2017 was…
