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News alert: Beazley reports on how AI, new tech distract businesses as cyber risk intensifies

The Last Watchdog

London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. For the insurance industry, working with clients to help them tackle these challenges is vital to ensuring businesses operate in as safe an environment as possible.

Risk 189
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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. The Framework.

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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.

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How can organisations close the cyber security skills gap?

IT Governance

A recent Field Effect Software survey found that 27% of respondents are looking to outsource some or all of their cyber security operations. By comparison, 24% said they are investing in ongoing cyber security education and 23% said they are increasing their IT or security budget. This is becoming an increasingly popular option.

Security 122
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How to manage the growing costs of cyber security

IT Governance

The costs of anti-virus software, staff awareness training, Cloud services and countless other resources stack up – and even then, you need to find skilled personnel to lead your security strategy, which is easier said than done. It doesn’t have to be this way, though.

Security 124
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A consumer perspective on FinTech disruption (part 3)

CGI

The blog series is based on the findings of CGI’s 2016 survey of 1,670 consumers across 8 countries, which assessed consumer perspectives on 12 leading digital FinTech services.* Invest in protection capabilities for the bank and customer : CGI’s survey shows that fear and trust are big issues with consumers.

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What is a Cyberattack? Types and Defenses

eSecurity Planet

Staying ahead of attackers is a constant battle and the cost is “unsustainable,” 81% of WEF survey respondents say. Capital markets, insurance, financial services, and banking are now online. It’s important to have state-of-the-art cybersecurity defenses and strategies in place to prevent attacks altogether.