Cyber
PWC tips global cyber market to reach $5bn by 2018
The global cyber insurance market could grow to $5bn (£3.2bn) in annual premiums by 2018 and at least $7.5bn by the end of the decade, according to a PWC report.
Hackers pitched as remedy to driverless car vulnerabilities
Motor manufacturers should reward hackers for uncovering vulnerabilities in autonomous vehicle systems as cyber security remains a major stumbling block to widespread adoption of driverless cars, according to a report published this month.
AGCS predicts global cyber premiums will reach $20bn per year by 2025
Allianz Global Corporate and Specialty forecasts cyber insurance premiums will grow globally from the current level of $2bn (£1.3bn) per year to more than $20bn over the next decade, representing a compound annual growth of more than 20%.
CFC launches global cyber risk portal
CFC has extended its cyber product suite with the launch of an online hub, which it claims enables brokers to deliver an end-to-end solution to their clients.
National Crime Agency targeted in revenge cyber attack
A group of hackers who were behind previous cyber attacks on Microsoft and Sony have claimed responsibility for downing the website of the UK’s National Crime Agency in an apparent revenge attack.
Hiscox report finds one in five small businesses are not insured
One in five small business owners and managers do not have any insurance, according to a survey carried out across six countries by Hiscox.
Insurers set for Bank of England cyber security follow-up survey
The Bank of England is following up on a 2012 cyber survey to check whether management teams at insurance companies have increased how often they discuss cyber security.
Pool Re boss raises prospect of separate cyber reinsurance scheme
Funds for a potential public-private reinsurance scheme for cyber catastrophes should not be mingled with Pool Re, however, the remit of the terrorism fund's management team could be extended to operate a separate cyber initiative.
Less than 6% of SMEs have cyber insurance, says ABI Research
Global research firm ABI Research has found that less than 20% of large companies and less than 6% of SMEs have cyber insurance within the global insurance market.
Cyber attacks in Australia have tripled since 2011
Cyber attacks in Australia have tripled in three years from 313 in 2011 to 1131 last year according to the Australian Cyber Security Centre.
CFC partners with security ratings firm Bit Sight
Specialist lines underwriting agency CFC has formed a partnership with cyber security ratings agency, Bit Sight Technologies.
Europe: Opportunities in Middle and Eastern Europe despite geopolitical risks (26 Feb)
Despite the Russian-Ukraine crisis, 2014 brought hope of a revival for the regional market in Middle and Eastern Europe. Economic prospects have been positive, regardless of the continual geopo
UK insurers vote cyber as most concerning risk
Cyber risk has topped a list of 25 concerns facing UK insurers, PWC research has revealed.
Lloyd's highlights data sharing as imperative to mitigating cyber risk
Insurers and governments must share data in order to accurately assess the risk of a large-scale cyber attack and protect businesses, according to Lloyd's research.
Trade Voice: Innovation: evolution or revolution?
A fresh approach is needed to tackle change, one that involves greater collaboration, says
Europe: Cyber security
With hacking and phishing scams on the increase, businesses would be expected to include cyber insurance in their arsenal of measures designed to protect them and their customers in the event of breaches.
Cyber attack on Polish airline grounds 1400
Polish airline LOT was forced to delay flights for five hours last Sunday (21 June) after a cyber attack on its ground operations systems.
Blog: Test driving the Insurance Act 2015
The new Insurance Act 2015 does not come into effect until August 2016 - as such the Act has yet to be tested in the UK courts. On 20 May 2015, the British Insurance Law Association changed that by holding the first ever mock trial exploring the new Act.
C-Suite - Insurer: Beware the rise of the machines
The Internet of Things presents opportunities for business, but brings with it questions of liability, says Jacqueline McNamee.
Uninsurable risk: No-go zone
According to businesses, six of the top 10 risks facing them are deemed uninsurable. Are insurers being innovative enough to address the problem?
Legal update: The Internet of Things - Who is liable?
The legacy of low-quality components could be challenging for insurers, says Jim Sherwood.
Directors could be held personally liable for cyber attacks
Company directors and officers could be personally exposed to lawsuits, shareholder actions and regulatory activity if they are found to have breached their duty in the wake of a cyber-attack, according to Marsh.
Aviva unveils cyber cover for SMEs
Aviva has launched its first cyber cover designed for small to mid-market customers to help combat the increasing threat of data and privacy breaches.
Interview - Patrick Smith: The business of risk
Post caught up with new Airmic chairman Patrick Smith to find out his plans for the organisation and hear more on how risk management is making its way up to the boardroom.