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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. Yet, boardroom focus on cyber risk appears to be diminishing. trillion by 2025, a 300% increase since 2015 1.

Risk 189
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Why Cyber Insurance is Essential in 2022

IT Governance

Organisations must always look for cost-effective ways to address the cyber security risks they face. With more than 1,200 publicly disclosed data breaches last year , and organisations spending almost £3 million on average responding to security incidents , effective risk management is a top priority. The benefits of cyber insurance.

Insurance 137
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Cyber-insurance – 72 hours for the insured party to file a criminal complaint: GDPR’s false friend

Data Protection Report

The French Information and Digital Security Experts Club ( CESIN ) has estimated that 54% of French companies were subject to cyberattacks in 2021, [1] while France Assureurs has put cyberattack risks on top of all other risks for the sixth year in a row. [2] 12-10-1 into the French Insurance code.

Insurance 105
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Few Fortune 100 Firms List Security Pros in Their Executive Ranks

Krebs on Security

One-third of last year’s Fortune 100 companies included a Chief Technology Officer (CTO) in their executive stables; 40 listed Chief Information Officer (CIO) roles, but just 21 included a Chief Risk Officer (CRO). The CSO or CISO position traditionally has reported to an executive in a technical role, such as the CTO or CIO.

Security 204
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Annual Cyber Risk Survey Finds Businesses Are Sharpening Their Focus on Cybersecurity but Also Reveals Much Room for Improvement in Building Cyber-Resilience

Dark Reading

This year's survey features the highest percentage of cyber insurance buyers since the beginning of the survey 11 years ago.

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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.

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The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why

Rocket Software

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP.