Protecting clients against growing and poorly understood risks associated with information technology system failures is a leading concern of the insurance industry today, a group of underwriters and brokers told risk managers this week. Along with cybersecurity, the insurance professionals …
Cyber risk lands in the top ten for the first time in Aon’s latest global risk survey, according to Aon Risk Solutions. Damage to brand and reputation was cited as the top overall concern facing global organizations, further underscoring the …
American International Group recently announced that it has acquired a minority stake in K2 Intelligence, an investigative consultancy. The companies have agreed to co-develop products and services that support AIG’s efforts to help clients mitigate and manage their cyber risk, …
Cyber risk can be technically hard to understand, according Marty Frappolli, senior director of Knowledge Resources for The Institutes. The damage to consumer data, complicated analysis on specific technologies involved in data breaches, and keeping up with court case rulings …
Business and supply chain interruption, natural catastrophes, fire and explosion top the risks for U.S. and global companies in 2015. In addition, cyber risks rank in top five for the first time. Businesses face new challenges from a rise of …
Despite dedicated cyber risk policies, a security breach can trigger a variety of claims and coverages, security experts said at a recent conference exploring privacy issues. Panelists at the Privacy Xchange Forum held in Scottsdale, Ariz., earlier this month, discussed …
In light of businesses increasing usage of information assets and advancing technology insurers are pulling away from cyber coverage, according to Kevin Kalinich, global practice leader of cyber risk insurance at Aon Risk Solutions. “A big misconception is that these …
After warning for years that the U.S. electric grid and other critical infrastructure are dangerously vulnerable to hacking, security experts fear it may take a major destructive attack to jolt CEOs out of their complacency. While awareness about cybersecurity has …
Reading the National Institute of Standards and Technology’s “Framework for Improving Critical Infrastructure Cybersecurity” is like being trapped in a nonstop risk management meeting. Within the Framework, organizations “dynamically select” improvements, functions “align with existing methodologies for incident management,” and …
A survey of perceptions about cyber risk sponsored by the American International Group, Inc. (AIG) found that among corporate executives, more are concerned about cyber threats than about other major business risks. More than 85 percent of the 258 decision-makers …