The European Central Bank and the region’s insurance authority proposed a two-pronged approach to increase insurance coverage for floods, storms and other weather disasters that are increasingly being fueled by climate change. One part of the plan is a voluntary …
The European Central Bank said lenders in the region need to keep investing in their ability to respond to attacks by hackers after a landmark stress test of the industry showed “room for improvement.” “Banks need to prioritize investment in …
The European Central Bank said one of its websites was hacked by unauthorized people who may have stolen private information including contact data. According to an emailed statement, hackers installed malware onto an external server that hosts the Banks’ Integrated …
Cyber risks will soon become bigger risks than natural catastrophes for the insurance sector, Scor Chairman and Chief Executive Officer Denis Kessler said, recommending the industry build a comprehensive, common global scale to assess cyber-related incidents. “I dream of a …