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“Cyber insurance pay-out rates at 99%, but uptake still far too low” warns ABI

The Association of British Insurers (ABI) has, for the first time, revealed that 99% of claims made (207) on ABI member cyber insurance policies in 2018 were paid*. This is one of the highest claims acceptance rates across all insurance products. Despite this, the take-up rate of...
Posted On 08 Aug 2019
James Dalton
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Association of British Insurers steps up call for access to ICO’s cyber breach data

While addressing a room full of Government officials, peers and industry leaders alongside Baroness Neville-Jones (former chair of the Joint Intelligence Committee), James Dalton, the director of general insurance policy at the Association of British Insurers (ABI), has stepped...
Posted On 30 May 2019
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“Cyber readiness levels stall as attacks reach new heights of intensity” finds Hiscox study

A sharp increase in the number and cost of cyber attacks is the key finding in a study of more than 5,400 organisations across seven countries commissioned by commercial insurer Hiscox. More than three out of every five firms (ie 61%) report one or more attacks in the past year,...
Posted On 23 Apr 2019
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The Growing Importance of Risk Transfer and Cyber Insurance

As data mega-breaches dominate the mainstream news headlines, businesses worldwide are necessarily focusing on how to manage and mitigate cyber risk. The Marriott breach is only the latest in a litany of incidents whose repercussions will surely echo for a long time to come, but...
Posted On 19 Feb 2019
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G&M International unveils all-new cyber insurance policy to combat digital threats

London-based insurance broker G&M International has announced the launch of its all-new cyber insurance policy whereby the business has created a package of valuable features designed to provide comprehensive cover and bespoke solutions for companies of all sizes. Over the...
Posted On 30 Jan 2019
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“Corporate cyber insurance will fuel ransomware growth in 2018” warns WatchGuard

While the increasing number of publicly disclosed breaches and successful ransomware incidents is driving growth in cyber insurance, there’s a risk that this will encourage criminals to target companies with extortion insurance to demand increased payments. That’s the...
Posted On 11 Dec 2017
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World’s first cyber insurance policy comparison engine launched by STORM Guidance

The world’s first cyber insurance comparison engine has been launched to allow UK brokers and other professionals involved in this market to rapidly compare and analyse the wide range of policies available. Created by cyber risk and incident response specialist STOR...
Posted On 16 Oct 2017
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2017 will bring “year of creative cyber criminality and determined Government responses”

Privacy will dominate the corporate agenda in 2017. That’s the considered opinion of David Ferbrache, technical director in KPMG’s cyber security practice, who explained to Risk UK: “The European Union General Data Protection Regulation (GDPR) is less than 18 months...
Posted On 09 Jan 2017
The global cyber insurance market could grow to $5 billion in annual premiums by 2018
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“Global cyber insurance market set to reach $7.5 billion threshold by 2020” states PwC report

The global cyber insurance market could grow to a value of $5 billion in annual premiums by 2018 and at least $7.5 billion by the end of the decade. That’s the considered viewpoint espoused in ‘Insurance 2020 and Beyond: Reaping the Dividends of Cyber...
Posted On 14 Sep 2015
Cyber security insurance is becoming a major issue for the corporates
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KPMG Survey: “Senior security professionals ‘don’t trust’ cyber insurance products”

New insurance products launched to protect businesses from suffering the losses caused by cyber attacks have apparently been met with great scepticism. A KPMG survey of senior information security professionals, whose organisations are members of KPMG’s International Information...
Posted On 05 May 2015
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