Keyword
cyber
Two-thirds of U.K. polled firms not assessing financial impact of a cyber attack: Marsh
September 19, 2016 by Canadian UnderwriterAlmost two-thirds of surveyed large and medium-sized organizations in the United Kingdom do not conduct or estimate the financial impact of a cyber attack, notes a new report issued Monday by Marsh. Despite a 56% rise in boardroom ownership of…
Fifth of surveyed U.S. businesses have not done any recent security testing for vulnerabilities
September 15, 2016 by Canadian UnderwriterAbout a fifth of surveyed businesses south of the border admit not having done any security testing for at least six months despite the lion’s share of respondents also reporting their organizations have encountered at least one security issue, notes…
Autonomous vehicles may reduce U.S. motor premiums by more than 40% by 2050: Aon Benfield
September 13, 2016 by Canadian UnderwriterAutonomous vehicles may reduce motor pure premiums in the United States by more than 40% by the time they “reach full adoption in 2050,” according to a recent Global Insurance Market Opportunities report from Aon Benfield. Aon Benfield, the global…
Reinsurance cession ratio across global P&C industry registers small rise for first time in several years: Aon Benfield
September 12, 2016 by Canadian UnderwriterReinsurance demand has increased over the past 18 months, with the cession ratio across the global property and casualty insurance industry registering a small rise for the first time in several years, according to Aon Benfield’s September 2016 edition of…
Drop in traditional malware and rise in mobile malware, but vigilance still key: U.S. research
August 19, 2016 by Canadian UnderwriterThe number of active malware families attacking business networks fell by 5% in July – representing the first such decrease in four months – while mobile variants rose, notes new threat research from Check Point Software Technologies Ltd. Check Point…
Allianz Global Corporate & Specialty launches cyber and professional liability coverage for North America
August 4, 2016 by Canadian UnderwriterAllianz Global Corporate & Specialty (AGCS) has announced the launch of a new cyber and professional liability coverage product designed exclusively for the North American market. Featuring a streamlined form structure with flexible terms, ACCEPT Protect is the “first of…
Persisting low interest rates, regulatory cost concerns expected to result in lower returns: U.S. insurers
July 15, 2016 by Canadian UnderwriterAbout three-quarters of polled insurers south of the border “have lowered their target return-on-equity expectations to 10% or lower,” notes a new special report released Thursday by A.M. Best. The lowered expectations are “a reflection of highly competitive market conditions…
Vulnerability allows printer watering hole attacks to spread malware: Vectra Networks
July 13, 2016 by Canadian UnderwriterResearchers at the Vectra Threat Labs have discovered a critical vulnerability in Microsoft Windows that enables attackers to gain system-level control over computers via infected or fake printer drivers to spread malware. “The vulnerability stems from a Windows process that…
Need for cultural shift to improve cyber security awareness: Wombat Security
July 7, 2016 by Canadian UnderwriterIt is disheartening to see how the end-user is being managed when it comes to combating cyber security threats, suggests Amy Baker, vice president of marketing for Wombat Security Technologies, Inc. “Insider threats are widely discussed and well-recognized, so it…
Cyber security enters U.S. manufacturers’ Top 10 risks: BDO
June 22, 2016 by Canadian UnderwriterCyber security now ranks among the Top 10 risk factors of manufacturers south of the border, notes a report issued Tuesday by accounting and consulting organization BDO USA, LLP. The lion’s share of manufacturers in the United States analyzed in…
Data breaches detection, escalation costs highest in Canada: global IBM/Ponemon report
June 16, 2016 by Canadian UnderwriterDetection and escalation costs related to data breaches were the highest in Canada and lowest in India, note findings of a new global survey released Wednesday. “The average detection and escalation costs for Canada was US$1.60. In contrast, the average…
90% of U.S. businesses experienced hacking incidents in the last year: HSB cyber study
May 18, 2016 by Canadian UnderwriterNine out of ten businesses in the United States have experienced at least one hacking incident in the past year, according to a survey released on Tuesday by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich…