Tag archives: Cyber-risk insurance

CyRiM warns of up to $193 billion cyber risk – Insurers beware!

The Cyber Risk Management (CyRiM) Report 2019 shows that the economic damage to the world from a concerted global cyber-attack propagated by malicious email could range between $85 billion (least severe) to $193 billion (most severe). Retail at least could suffer the highest total economic loss globally ($15 billion), followed by healthcare ($10 billion) and manufacturing ($9 billion). It … Continue reading

Cyber breach claim fails under GLP because information not ‘published’ (US)

A Florida court held that the insurer had no duty to defend a hotel operator’s information technology subsidiary against allegations that it was responsible for a hacking incident that exposed hotel customers’ credit card data because, under the general liability policy, there was no ‘making known to any person or organisation covered material that violates … Continue reading

Cyber-risk loss: what should board members do?

Cyber-risk has become the most significant concern for today’s boards. How does a company protect itself and how does a board deal with it? Cyber-risk forms an important part of an organisation’s risk management concerns. Wise companies have a chief risk officer or a special committee of the board that deals with this type of … Continue reading
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