Chairmans welcome

Welcome to CRIF.

Matthew Hogg - Cyber Risk and Insurance Forum Chairman - 2014The insurance industry has responded to the growing nature of data and network integrity risk so far back as to pre-date the “millennium bug” scares. However it is in recent years that the prevalence of “cyber” insurance has arisen, primarily due to the increasing exposures in the US with regards to individual state notification laws and an aggressive plaintiff bar. 

In some ways this has further muddied the waters with regards to what “cyber” insurance actually covers.

A myriad of policies have been developed by tens of insurance markets; many with only very specific coverage provided and limited to exposures such as privacy or covering disruption only arising from malicious attacks.

The word “cyber” may have impact to a board member or the media, but it is insufficient to provide detail to the complex risk environment surrounding information and privacy risks or critical network dependency.

Cyber Risk Legal Update - 2016

DAC Beachcroft Adviser Newsletter

Cyber Risk legal update | May 2016

Government pushes Cyber Security Strategy

2016 sees the launch of the UK's second National Cyber Security Strategy.  The first was launched in 2011 as a result of the 2010 National Security Strategy, which identified cyber crime as one of the top threats to the UK.  

Cyber Risk Legal Update - January 2016

DAC Beachcroft Adviser Newsletter

Cyber Risk legal update | January 2016

Newsletter | Cyber Insurance, Privacy & Data Security

A milestone has been reached in the world of data protection law.  After three years of detailed discussions political agreement has been reached between the European Commission, Council and Parliament on the final text of the General Data Protection Regulation (the GDPR).
The GDPR will replace the Data Protection Directive 95/46/EC and therefore the UK Data Protection Act 1998 and will be directly applicable in all Member States without the need for implementing legislation.  The legislative process will be complete once the text is formally adopted by Council and Parliament, which expected in the coming months.  The GDPR will come into effect two years from formal adoption and is therefore anticipated to take place in the first half of 2018. Further detail about the key features of the GDPR is provided here.

PWC Global State of Information Security Survey 2016 report

pwc Insurance 2020 report | download link 2016 Global Survey from PWC 

As threats continue to mount, understanding and managing cybersecurity risks have become top of mind for leaders in business and government.

Organisations are responding by taking action adopting innovative technologies like cloud-enabled cybersecurity, Big Data analytics and advanced authentication to reduce cyber-risks and improve cybersecurity programmes.

Cyber Risk Legal Update - August 2015

DAC Beachcroft Adviser Newsletter

August 2015 Cyber Risk legal update

Cyber Insurance, Privacy and Data Security Newsletter

With our sincerest apologies to Miss Jessie J, this month the newsletter is all about the money, money, money with cyber insurance rapidly becoming the new bling-bl-bling.
The estimated cost to the UK economy from cyber threats amounts to billions of pounds each year and has nearly doubled between 2013 and 2014.