Analysis – Page 6
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Analysis
Cyber: Hitting pause
At below $10 billion, why has the cyber re/insurance market failed to live up to its potential?
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Analysis
Russia and China behind majority of state-sponsored cyber attacks
The private sector suffered from 37 state-sponsored cyberattacks so far in 2022 as hackers target companies for monetary gains
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Analysis
NHS hit by massive ransomware attack
The latest attack on the NHS 111 system has been confirmed to be a ransomware attack on a managed service provider
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Analysis
Cyber rate rises of 300% ‘not uncommon’ - Miller
Despite ‘no material change in exposure’, insurers are upping premiums by 100% on average and reducing capacity
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CISOs face burnout as ransomware threat continues
A third of organisations experience a ransomware attack at least once a week, with impacts on security professionals’ wellbeing
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Analysis
Ukraine fall-out and new ransomware tactics elevate cyber risks
The maritime sector and satellite infrastructure are sectors most likely to be targeted by cyber criminals
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Cyber: Banning ransoms is a ‘blunt policy instrument’
A ban could encourage ransomware attackers to engage in new, more malicious forms of extortion, warns Geneva Convention
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Analysis
Fire/explosion and nat cats remain top drivers of claim severity
Contingent BI claims spike due to broken supply chains, cyber claims remain elevated and inflation will add to claims severity, finds AGCS
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Analysis
The metaverse will support ‘shift from risk indemnity to risk mitigation’
Use of the metaverse for the insurance sector is “evolving at pace”, says Accenture’s global insurance lead
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Analysis
Insurers must deploy capital ‘confidently’ to tackle cyber crunch
Demand for cyber insurance has increased - but so has the price
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Analysis
CFC issues ransomware warning to SMEs
The ‘BazarCall’ attack is responsible for an increasing number of malware infections observed by CFC over the past three months
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Cyber extortion grows in sophistication, warns Beazley
Data exfiltration is now prevalent in a significant majority of incidents as extortion techniques become increasingly complex
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FERMA calls for EU-level cyber resilience push
Paper draws attention to the ‘cyber insurance gap’ and ongoing treatment of captives under Solvency II
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Analysis
NCSC warns CISOs of staff burnout during Russia-Ukraine conflict
Businesses must prepare for the ‘long haul’ against a backdrop of increased cyber threats
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Cyber security remains “chief risk” for IT audit teams
War-related cyberattacks are on the rise and the surge of sophisticated ransomware attacks is ongoing, warns research
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Amrae: Cyber remains a volatile class of insurance
Renewal negotiations should be less tense in 2022 with cyber underwriters seeing fewer claims and a return to profitability
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Lloyd’s warning over state-sponsored cyber attacks
Cyber attacks targeting critical infrastructure rose from less than 10 in 2013 to almost 400 in 2020
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Half of consumers have been exposed to fraud - Experian
Seventy percent of businesses say preventing fraud is their top concern as most consumers expect to increase online activity
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Cyber correction creates a ‘more sustainable’ market – BrokerFest 2022
The importance of cyber essentials and protecting your supply chain has never been more apparent, say experts
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Analysis
Cyber war exclusions boost likelihood of claims litigation
A lack of standard, battle-tested definitions in cyber policies makes litigation more likely amid the conflict in Ukraine, warns Moody’s