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Only 2% of business are properly insuring for Cyber Risks

That is the shocking conclusion from the panel session held at the recent CBI Cyber Security Conference.

The panel session was chaired by Matthew Fell, Policy Director, CBI and included Giles Smith, Deputy Director Cyber Security and Resilence from DCMS and Steven Wares, Head of Cyber Practice, EMEA, Marsh. London, June 2015.

Systemic Risks | Underwriting Committee

Cyber Risk Underwriting - CRIF Committee

CRIF is providing useful information and articles covering Cyber Risk & Insurance. This article comes from our Underwriting Committee

This article looks at the issues that need bearing in mind when underwriting and we hope it will provide some insight into how cyber insurance risks are underwritten and what good underwriters look for when analysing submissions.

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Cyber Essentials scoops Industry Award

The government backed Cyber Essentials scheme has been recognised with the Editors Award from SC Magazine.

The scheme was developed by BIS and CESG to help businesses put in place practical measures that have been proven to help protect against cyber risk following an extensive period of industry consultation.

NEW RISCAuthority Guidance for Insurers and Business

The RISC Authority, with the support of the Cyber Risk and Insurance Forum (CRIF), has produced new guidance on Cyber, IT Risk and Insurance that will help insurers and business.

The guidance entitled ‘S28 Cyber crime: overview and sources of support’ provides information without jargon on the threats being faced by business and looks at the typical impacts seen.

Cyber Crime and Coverage Issues

Financial cyber-crimes are becoming such a frequent feature in the media that one might be forgiven for feeling a little "cyber-fatigued."

However, the scale of the thefts from financial institutions, as reported by Kaspersky Labs recently, are arguably unique in their scale and audacity. Kaspersky describes hooded "money mules" waiting at ATMs, controlled remotely to dispense cash at a particular time without the need for a bank card.

The development of Cyber Insurance

Understanding the evolution of Cyber Risk and Insurance

In Boardrooms around the world cyber insurance is an important subject that is gaining in profile and importance.

In this article Daljitt Barn, Cyber Director of PwC, looks at the how the Cyber Insurance Sector has evolved over the past four years and what the next few years may bring.

The Achilles Heel: What the Board must know about Cyber Risk

Companies of all sizes have recognised the tremendous opportunity the Internet presents for conducting business. But great reward also comes with great risk.

Cyber Risk has now emerged as a high-profile problem; so much so, it has been escalated to third position on the corporate boards risk register.

In the 21st century everyone needs to take cyber risk seriously.

Cyber attacks: Directors' Liability

Cyber Attacks and the liability on Directors and Officers

The risk of a cyber attack is material for the majority of businesses in the financial services industry today.

Such attacks are increasingly sophisticated, widespread and disruptive.

The solitary teenager hacking out of a sense of curiosity has been replaced by criminal gangs seeking improper financial gain. As a consequence, the financial consequences are increasingly significant.

Managing Risk in the Cloud - Ace Group White Paper

Cloud computing is a landscape-altering technology that is enjoying increasing rates of adoption — often implemented, however, without taking sufficient risk management precautions.

Risk managers need to have a deep understanding of what cloud computing is, and why they need to be aware of it. While there are numerous advantages to adopting the cloud, there are also abundant risks, and having a comprehensive risk management plan in place is critical.

Global Cyber Risk | International Perspectives | Video Series | Overview

Changing data security laws and emerging cyber risks are a truly international phenomenon as can frequently be seen from headlines around the world.

Covering UK, Europe, Ireland, Asia, Mexico, Chile, Brazil, Columbia & New Zealand

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