While the insurance industry is quickly adopting AI technologies to improve the speed and accuracy of routine functions, analyze data and assess risk, malicious actors use the same tech to disrupt business and profit from cyberattacks. Recognizing the potential exposure …
Industry stakeholders continue to try to get a grasp of the implications from last week’s massive technology outage affecting motley industries around the world, but the theme of policy language is reoccurring for a cyber insurance industry not known for …
A new report asserts the impact of business email compromise incidents on U.S. companies is likely underestimated and misunderstood—and it shows that multifactor authentication and cybersecurity awareness programs may be the top two risk management controls to prevent BEC attacks. …
Cyberattacks on MGM Resorts International and Caesars Entertainment last week show that ransomware gangs continue to be a major threat and are using more sophisticated strategies to break into private computer networks. GuyCarpenter reported Wednesday that a cybercrime group called …
LONDON — Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy Carpenter said on Monday. Overall …
Guy Carpenter Using Synthetik to Model Terrorism Risk Guy Carpenter & Co. says it has entered into “an exclusive multi-year agreement” with Synthetik Applied Technologies to enhance its proprietary terrorism modeling product, Sunstone. Synthetik is an Austin-based engineering company that …
Despite progress, carriers are still falling short in how they approach cyber insurance and also how they cover events when they happen. How can this be? The unique makeup of cyber risks continues to hold them back, according to experts …
As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the current market that run in the billions …
Lloyd’s of London has suspended a senior broker at Guy Carpenter & Co. for sending colleagues a sexually suggestive email about a female employee and is planning to take similar action against a second person who forwarded the message outside …
Guy Carpenter Appoints Nash President of New International Division Guy Carpenter & Company, LLC, a global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies, announced the appointment of James Nash to the newly-created role …