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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 161
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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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Government survey reveals GDPR awareness is falling short

IT Governance

The Cyber Security Breaches Survey 2018 from the Department for Digital, Culture, Media and Sport (DCMS) has revealed that only 38% of businesses and 44% of charities have heard of the General Data Protection Regulation (GDPR). This is a worrisome finding, as it is only a matter of months until the new Regulation is enforced. Key findings.

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Cyber attacks hit a fifth of schools and colleges

IT Governance

One in five schools and colleges have fallen victim to cyber crime, according to research from the specialist insurer Ecclesiastical, yet the majority (74%) of educational establishments claim to be “fully prepared” to deal with such attacks. . Both exploit human error. . Cyber Essentials and Cyber Essentials Plus .

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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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62% of organisations unaware of the GDPR

IT Governance

There is an alarming lack of awareness across all industries about the EU General Data Protection Regulation (GDPR) , according to a government survey. The survey split respondents into businesses and charities. 6% of businesses and 12% of charities have installed, changed or updated antivirus or anti-malware software.

GDPR 63