“Insurance against cyber attacks now vital” claim business leaders in NTT Com Security survey

While the majority of global organisations say that it’s now ‘vital’ their operations are insured against information security breaches, less than half (41%) are fully covered for both security breaches and data loss, while just over a third have dedicated cyber security...
Posted On 19 Apr 2016
Christopher Graham: the UK's Information Commissioner

Information Commissioner repeats call for imposition of stronger sentences on data thieves

Information Commissioner Christopher Graham has reiterated his call for stronger sentencing powers to be imposed on those people convicted of stealing personal data. The comments come as an employee of a car rental company was sentenced for stealing customer information that...
Posted On 19 Jan 2016

IRM outlines detailed framework on capabilities of flood risk-focused models for financial risk carriers

The Institute of Risk Management (IRM) has published a guidance document produced by its Internal Model Industry Forum (IMIF) exploring advanced uses for insurer internal models in the context of the insurance and reinsurance of flood risk. This guidance has been produced by a...
Posted On 01 Dec 2015
Professor Martin Gill

“Security adds value which is vital for business” urges SRI’s latest research report

In its new report published as part of the influential Security Research Initiative (SRI) series, Perpetuity Research has explored the broader benefits of security beyond the protection of assets and found a number of ways in which security has generated income for host...
Posted On 23 Sep 2015
Research conducted by Legal & General reveals that up to 40% of businesses would cease trading within a year if a key person died or became critically ill, yet only a fraction of those businesses have taken precautions to protect themselves from the after-effects of such events

Knowledge gap “could place up to 40% of Britain’s businesses in jeopardy” claims Legal & General

Research conducted by investment and insurance services company Legal & General reveals that up to 40% of businesses could cease trading within a year if a key person died or became critically ill, yet only a fraction of those businesses have taken sufficient precautions to...
Posted On 24 Jun 2015

“More than one-in-four British businesses suffer from security breaches” finds Vanderbilt research

A comprehensive study conducted across four European countries by YouGov on behalf of Vanderbilt reveals that more than one in four (28%) of British SMEs have suffered loss, disruption or inconvenience as a direct result of physical or cyber security breaches. While cyber...
Posted On 16 Jun 2015
Michael Sicsic: joining the Financial Conduct Authority

Michael Sicsic joins Financial Conduct Authority to focus on retail sector insurance

Michael Sicsic is moving from his position as group risk director with Aviva plc to join the Financial Conduct Authority (FCA), where he’ll take up the role of head of department for general insurance focused on the retail sector. As a condition of this new appointment,...
Posted On 09 Jun 2015
The Institute of Risk Management has published a guidance framework which outlines how to ensure that risk models, created by insurers to comply with the requirements of Solvency II, add value to businesses beyond just meeting regulatory requirements

IRM publishes framework document designed to keep Solvency II risk models relevant

The Institute of Risk Management’s Internal Model Industry Forum has published a guidance document based on its research into the effective validation of risk models created by the insurance industry to comply with the requirements of Solvency II. Entitled ‘The Validation...
Posted On 11 May 2015
Cyber risk is one of the Top Three priority risks for UK insurers in 2015

Cyber risk, ebola and regulatory change considered top emerging risks among UK insurers

Cyber risk, the prolonging of the ebola pandemic and more regulatory and legislative changes are the Top Three priority risks for UK insurers in 2015. That’s according to the findings of a new joint survey conducted by ORIC International and the Institute of Risk Management...
Posted On 14 Apr 2015

Securing The Security Companies

What are the key factors to be brought into the equation and carefully weighed up when arranging insurance cover for a security business? Tina Chittenden moves to pinpoint the main risks and potential pitfalls security companies ought to bear in mind Security companies are in the...
Posted On 10 Apr 2015