Hacking the Olympics Demands Greater Attention to Connected-Device Risk

Hackers targeted organizations involved in planning next month’s Winter Olympic Games in South Korea, according to recent reports from security researchers, an incident that illustrates the wide reach of cyber risk as connectedness increases.

According to McAfee Labs, the primary targets of the hacking campaign – which involved malicious documents attached to emails – were organizations associated with Olympic ice hockey competition. Other Olympic-related hacks have also been reported — Russian cyberespionage group Fancy Bear released emails stolen from the International Olympic Committee as suspected retaliation over the Russian Federation’s ban from the Pyeongchang Olympics in February.

The targets of the hacking campaign uncovered by McAfee seem more aimed at stealing sensitive information and McAfee did not speculate on attribution for the attack.

Read more at https://www.advisenltd.com/2018/01/15/hacking-olympics-demands-greater-attention-connected-device-risk/

Erin Ayers, Hacking the Olympics demands greater attention to connected-device risk (January 15, 2018).

Myth Busting Cyber Claims – There is More Than One Way to Manage a Cyber Claim

February 21, 2018 at 11am EST

The insurance industry has long worked under the assumption that cyber claims, or cyber incident response, should be led by a lawyer or IT specialist. While legal and IT services are essential components of cyber claims handling, and the cyber provider ecosystem, their expertise is necessary at the right time and not necessarily for every situation that transpires. Dedicated project management can help to streamline the cyber claims process.

On February 21st at 11 AM Eastern, join CyberScout’s Eduard Goodman and Eric Hodge, Advisen’s Josh Bradford, and a panel of experts as they explain how cyber incident response project management can be utilized to ensure that costs are minimized and losses are localized.

The free, one-hour webinar is sponsored by CyberScout.

For more info and registration for this upcoming webinar, visit https://www.advisenltd.com/2018/02/21/myth-busting-cyber-claims-there-is-more-than-one-way-to-manage-a-cyber-claim/

Advisen Ltd. February 2018. Myth Busting Cyber Claims – There is more than one way to manage a cyber claim [Webinar].

Coverage in an Age of Healthcare Change and Uncertainty

January 2018

Management liability claim payouts tripled between 2008 and 2016, according to the Advisen database.  What are the factors within the healthcare industry that may have contributed to this increase?  How can healthcare organizations use insurance products and solutions to address certain exposures? Find out in CNA and Advisen’s free, 3-page paper.

Read more at https://www.advisenltd.com/2018/01/22/coverage-age-healthcare-change-uncertainty/

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

CNA | Advisen Ltd. January 2018. Coverage in an Age of Healthcare Change and Uncertainty [White Paper].

European Cyber Losses 2011 – 2017

European cyber losses have affected organizations across Europe in recent years. 2017 was a particularly busy year as the region faced a series of cyber incidents including the Wannacry ransomware attack, the Petya incident, and the Macron campaign hack. This 2018, the region will see the implementation of new cyber and data privacy regulations in Europe such as the EU General Data Protection Regulation (GDPR) and the EU Network and Information Security Directive. These regulations are quite timely considering the European cyber losses that have occurred in recent years. Advisen’s loss data experts pulled together 13 notable European cyber incidents to illustrate how breaches in many forms affect European companies and organizations.

For more info and downloads, visit: https://www.advisenltd.com/2018/01/16/european-cyber-losses-2011-2017/

Advisen Ltd. January 2018. European Cyber Losses 2011 – 2017 [Advisen Notable Losses].

Cyber Risk Analytics Webinar

Tuesday, February 27, 2018 11:00 AM ET

Cyber OverVue™ is a cyber risk analytics solution that leverages historical loss data to generate a loss profile and benchmark analysis in one application, facilitating data-driven decision-making about the cyber risk of an organization.

During this webinar, Product Manager Aloysius Tan will demonstrate how you can easily identify frequency and severity drivers with Cyber OverVue and discuss the implications.

For more info and registration for this upcoming webinar, visit https://www.advisenltd.com/2018/02/27/cyber-risk-analytics-webinar/

Advisen Ltd. February 2018. Cyber Risk Analytics Webinar.

State of the European Insurance Market

February 22 at 11am EST / 4pm GMT

How is the European insurance market responding to current political, economic, regulatory and technological upheaval?

How do the European Union’s General Data Protection Regulation (GDPR) and Brexit affect capital allocation, risk pricing and appetite in the European insurance market?

On Thursday, February 22, Advisen will host a webinar that examines the state of the European insurance market.

For more info and registration for this upcoming webinar, visit https://www.advisenltd.com/2018/02/22/state-of-the-european-insurance-market/

Advisen Ltd. February 2018. State of the European Insurance Market [Webinar].

Discrimination Losses: The Financial Impact

Our loss data experts compiled 12 notable discrimination losses tracked in our proprietary EPLI loss data containing more than 55,000 employment practices liability cases. This document highlights the huge financial impact resulting from these cases.

What are the top recently decided discrimination losses?

Decades ago, Dr. Martin Luther King, Jr. called to an end to all kinds of discrimination. While his actions resulted in significant changes, discrimination still abounds.

For more info and downloads, visit: https://www.advisenltd.com/2018/01/11/discrimination-losses-financial-impact/

Advisen Ltd. January 2018. Discrimination Losses: The Financial Impact [Advisen Notable Losses].

Advisen Claims Satisfaction Survey Identifies Top Claims Handlers, Attributes

Advisen Ltd. recently announced the findings of the 2017 Claims Satisfaction Survey. The results of the survey are detailed in a report that identifies the carriers and TPAs with the highest quality claims services based upon a variety of claims handling “best practices.”

Input from 560 risk managers and brokers revealed FM Global, Chubb, Beazley, Gallagher Bassett, Travelers, and AIG as some of the highest-rated claims handlers. The survey highlights claims satisfaction in four lines of business: Property, Primary Casualty, Management/Professional Liability and Cyber.

Respondents identified expertise, good communication, accessibility, flexibility, and fairness as the top attributes brokers and insureds are looking for in an insurer/TPA.

Although generally satisfied with property claims handling, respondents said they would like better communication regarding timing and the schedule of work, flexibility with complex claims, online reporting, and after-hours services.

Read more at https://www.advisenltd.com/2018/01/08/advisen-claims-satisfaction-survey-identifies-top-claims-handlers-attributes/

Advisen Ltd. (2018). Advisen Claims Satisfaction Survey Identifies Top Claims Handlers, Attributes [Press release]. Retrieved from Advisen Press Releases.

2018 Will Feature Continued Vulnerability Exploits and Expansion in Cyber Insurance Options

2017 may have been the year in which organizations began to fully understand that “cyber risk” means more than retail data breaches and 2018 for the cyber insurance industry will call for continued efforts to meet the expanding needs of their clients.

A key theme of 2017 included the exploitation by cybercriminals of known vulnerabilities to cause chaos, business disruption, and financial losses. Experts agree that the tactic is unlikely to end any time soon.

Read more at https://www.advisenltd.com/2018/01/04/2018-will-feature-continued-vulnerability-exploits-expansion-cyber-insurance-options/

Erin Ayers, 2018 will feature continued vulnerability exploits and expansion in cyber insurance options (January 4, 2018), available with subscription at Advisen Cyber Front Page News.

Congress Urges DHS to Focus on Election Cybersecurity

Congressional lawmakers want the Department of Homeland Security to make a special cyber resolution in the new year – to prevent future disruption from hackers and to increase cooperation between states and the federal government on cyber threats.

Bipartisan members of the U.S. Senate wrote a letter to recently confirmed DHS Secretary Kirstjen Nielsen, urging her to make election cybersecurity a priority. The DHS let 21 states know in September 2017 that Russian hackers attempted to infiltrate their voting systems.

Read more at https://www.advisenltd.com/2017/12/21/congress-urges-dhs-focus-election-cybersecurity/

Erin Ayers, Congress urges DHS to focus on election cybersecurity (December 21, 2017), available with subscription at Advisen Cyber Front Page News.

2018 Cyber Risk Awards

Advisen will host our 5th annual Cyber Risk Awards at a gala dinner event in New York City that has become the leading networking event on the cyber social calendar. The excellent line-up of emcees will bring their unique flavor to the evening which will see the cyber market’s top performers honored by their peers. Unlike other industry award presentations that kowtow to advertisers, Advisen’s Cyber Risk Awards are determined by “People’s Choice” and leverage Advisen’s vast contact database of insurance professionals who care about Cyber Risk. 385 Cyber Risk Professionals attended this dinner in 2017.

Voting will be open soon!

Read more at https://www.advisenltd.com/2018/06/06/-cyber-risk-awards/

Advisen Ltd. (2018, June 6). 2018 Advisen Cyber Risk Awards [Media Awards].