The recent class action settlement, SEC Wells order and the enclosed Delaware Court dismissal of a Caremark claim. ‘In the context of a Caremark claim, pleading such bad faith typically requires allegations establishing that the directors either (1) utterly failed…
Supply chain hack at a Boeing subsidiary affects airside. ‘The incident is impacting the receipt and processing of current and new Notice to Air Missions (NOTAMs) — an industry term for notices filed with aviation authorities to alert pilots of…
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…
A 90% reduction in the fine imposed by the ICO on the Cabinet Office. What message does that send to companies that breach UK data protection rules? When U.S and EU regulators regularly fine in the £M or £10M. The…
White House statement on their International Counter Ransomware Initiative 2022. Getting people together to discuss the issue is good and moving ahead on ransomware is positive, albeit its a single cyber threat vector. But it feels like a COP summit,…
Rating agencies have been busy recently raising concerns about the impact of cyber on debt and bonds. Fitch is now raising a concern about the impact of cyber on sovereign nations. Rightly Fitch points out that its a long tail…
Thanks Ted Dziekanowski for this. Following on from my previous post about Fitch, cyber and sovereign ratings. The enclosed article by Fitch goes someway to highlight their concerns over sovereign cyber as the recent cyber attacks in Australia demonstrate the…
