Analysis – Page 10
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Analysis
Social engineering: Sophisticated and underinsured
Social engineering attacks are on the rise, but losses can pose a grey area where insurance is concerned
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Analysis
AXA’s Asian operations hit by ransomware attack
It comes a week after the insurer said it would be dropping extortion payments when underwriting cyber-insurance policies in France
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Ransomware: ‘Don’t pay’, urges UK government
Paying a ransom does not guarantee a successful outcome and will not protect networks from future attacks, says home secretary
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Analysis
Colonial Pipeline attack exposes ransomware “pandemic”
CISA urges organisations to take action to strengthen cyber security following US critical infrastructure attack
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Analysis
Cloud dependency brings systemic risk potential
During the last six months, Amazon, Google and Microsoft Azure have all experienced significant service outages - CyberCube
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Analysis
Cyber tops risk concerns for financial firms
Analysis of $1 billion of insurance industry claims show cyber incidents, including crime, is the top cause of loss - AGCS
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Hiscox cyber study suggests complacency
German firms were hardest hit by cyber attacks and ransomware is now commonplace, with one in six firms targeted
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Governments most targeted by ransomware attacks
The government sector was most affected by ransomware attacks in 2020, followed by banking and manufacturing
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Cyber tops list of concerns for D&Os
The shift towards WFH has heightened cyber attack and data loss risks, with exposures for senior managers, finds survey
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Ransomware costs to reach $20 billion in 2021
Only 40% of organisations report having adequate remote work strategies to manage the risks associated with WFH, finds Aon cyber report
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Cyber: Critical industries bombarded during pandemic
As firms scaled-up cloud computing during lockdown, they did not always scale up their security processes at the same rate
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Asset-light economy presents new, disruptive risks
Corporations are holding more risk on their balance sheets as the value of intangible assets and potential for systemic risk grows
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BCI: COVID-crisis to fuel political risk
Non-occupational disease tops the list of concerns, with mental health, cyber and climate risks also high on the agenda
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Digital health sector overexposed - survey
More than two thirds lack insurance coverage for bodily injury claims arising from system failure or cyber breach
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MS Exchange attacks to hit larger firms
Large firms in Germany and US at high risk of recent cyber attacks on the servers running Microsoft’s email services
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Insurer CNA hit by cyber attack
The insurer, which underwrites cyber insurance via subsidiary CNA Hardy, said the “sophisticated” attack on 21 March caused network disruption
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Analysis
Power and utilities gain dedicated cyber cover
Product includes cover for property damage and fines and defence costs arising from regulatory actions, including GDPR
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Boards have “fragmented” approach to cyber risk - WEF
Boards have made gains in recent years by recognising cyber as an enterprise risk, but greater resilience is needed
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Ikea France on trial over spying claims
Former head of Ikea France’s risk management department, Jean-François Paris, is among those accused
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Analysis
Cyber: Ransom payments jumped 171% in 2020
Healthcare organisations were most targeted while the rise of ’double extortion’ has fuelled ransomware losses