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.
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.
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.
Beazley, the pioneer in breach response insurance, announced today the addition of PwC to the panel of specialist service providers available to Beazley Breach Response (BBR) policyholders. Beazley's BBR clients now have access to one of the world's largest forensic services providers to investigate suspected data breaches and network intrusions and contain the issue as swiftly as possible.
In this video, from Ace Group, Iain Ainslie explains how Cyber Risk is changing and how it now affects most business.
Iain talks on the disruption, liabilities and the expenses associated with a security breach. He argues that Cyber Risk is no longer just an IT issue, but a top line business risk that needs to be managed at board level.