Alllianz Global Corporate & Specialty cyber report: Growing cost of ransomware attacks impacting businesses of all sizes Sophistication and frequency of business email compromise attacks also increasing Emerging risk trends include: heightened risk of state-sponsored attacks, the evolving third party liability landscape, a shortage of cyber security professionals, and cyber governance under increasing ESG scrutiny Better cyber risk insights help …

As warfare has evolved, has the insurance industry provided an adequate response? Insuralex´s Exclusive member in London assess how the insurance industry is evolving to meet those new risks.   At any point in time there will be war and hostilities taking place somewhere in the world.  War- related risks are typically excluded from insurance policies and, where appropriate, written …

AGCS report highlights cyber risk trends driving the surge in ransomware incidents, such as double and triple extortion and supply chain attacks. Business interruption and recovery are the main causes of financial loss for companies. Many attacks could be prevented if companies strengthen their cyber security and controls – often with simple measures. During the Covid-19 crisis another outbreak has …

Understanding the complexity of cyber risk is not a simple task. As part of AXIS´ mission to enhance education and awareness of  cybersecurity risk, #AXISInsurance Cyber Adviser John Donald developed “35 Views of Cyber Risk” to give unique explanations and a 360-degree look into cyber risk. Read and download the book here.   Cyber Incyte Miami 2020  

The insurance market has already changed. Have you? Do not miss Rokk3r talk, a session of insights and new trends. (By invitation only, see details below -Spanish-) The 2020 Miami (re) Insurance Week is the most important Miami networking week of the year for the Latin American Insurance Industry. About iNLIP, independent Network of Latin American Insurance Professionals   FECHA …

2020 Miami (re) Insurance Week Calendar AXIS presents Cyber Incyte Miami 2020 to bring together clients, brokers and key stakeholders to share different views and perspectives of the Cyber Risk and disrupt insurance as usual. The first event of this kind in Miami, bringing the Industry´s premier global resources for risk solutions, innovation, consulting services and education to the Latin …

Disrupting insurance: how technology, data and digitalisation are changing the industry The face of insurance is changing. Again. Led by data, digitalisation and a need to engage the customer, there are already many shifts underway. This current round of technology-driven change differs from those of the past, not least because of the speed and scale involved. Harnessed properly, these powerful …

Chubb Cyber IndexSM provides global claims and policy data, incident response costs analysis, and insights into cyber insurance limits and deductibles. Chubb has enhanced its proprietary Chubb Cyber IndexSM with upgraded features that help identify a range of global cyber threats based on an organization’s industry and size. The new tool also offers cost analysis, insights on cyber insurance limits …

How is technology changing claims management in Latin America? The insurance market has long been associated with a lengthy and complex claims process. But, as all of us who ply our trade in this market know, this will soon no longer be the case. The modern insurance market is a unique and complex environment. As new digital technologies are developed, …

Chubb’s latest Cyber InFocus Report, “Know the Latest Trends in Cyber Risks,” outlines the newest cyber exposures that all institutions should have on their radar. The first of these new risks surrounds a recent surge in Biometrics Information Privacy Act (BIPA) lawsuits, which has created a growing need for organizations to better understand current and emerging privacy laws. BIPA regulates …

AIG is the cyber insurance policy’s lead underwriter, while also exposed are said to be insurance and reinsurance players AXIS, Berkshire Hathaway, Chubb, CNA, Nationwide, and Sompo International according to Artemis and Reinsurance News. The recent Capital One cyber hack attack and resulting significant data breach could lead to a significant cyber insurance and possibly reinsurance market loss, leading Property …

It is no secret that cryptocurrency is captivating audiences and opportunists on a global scale. By utilizing the cryptocurrency model of block chain technology, users can perform transactions more quickly and anonymously. As such, many believe cryptocurrency was initially created to facilitate illicit activity such as human trafficking and narcotics. That impression has since been replaced as more and more …

Every claim brings with it a mountain of data. Some of this data is readily accessible and subjects itself to straightforward analysis. Think policy type, coverage, customer demographics, or loss history. Other data, such as witness reports, images, email text, or client financials, are much less structured. They don’t lend themselves to spreadsheets, summaries, or quick conclusions. This makes them …

Demand is on the rise for cold storage vault services for cryptocurrency. As CIT and vault providers work to meet the demand, they are facing risks that are at once similar and very different from those they encounter with their cash services. As a vault or transport provider, how well do you understand the risks of cold storage? Our latest …

Mexico: Latin American Cyber Risks Seminar  Confirmed speakers are: Zurich (Belén Navarro), Willis (Natalia Char y Marcela Visbal), MDD (Jessica Reyes), AMIS (Juan Riveroll, Asociación Mexicana de Insituciones de Seguros) and Insuralex Latin American Insurance Lawyers. (See brochure) Insuralex is a group created by independent law firms that specialise in Insurance and Reinsurance coverage, defence, litigation and all other related legal services. …