New Data Standards Could Offer More Cyber Accuracy Now

AIR Worldwide last week released a cyber exposure data standard, a first step toward a full cyber model but insurers may not have to wait to begin more accurately underwriting and pricing cyber risk, according to Scott Stransky, principal scientist at AIR.

Stransky recently spoke with Advisen to offer more detail about the standard as well as the preparer’s guide issued in conjunction with it. He explained that while AIR has been at work on developing a cyber risk model, the standard, in conjunction with AIR consulting and a SQL schema, can already provide insight for insurers into their cyber risk portfolio. The standard represents extensive work with over 50 insurance companies, according to Stransky, and is meant to be a tool that insurers can develop over time to meet their needs, as well as create a uniform way among the insurance and reinsurance industry to communicate about cyber risk.

Read more at http://www.advisenltd.com/2016/02/02/new-data-standards-could-offer-more-cyber-accuracy-now/

Ayers, Erin. “New data standards could offer more cyber accuracy now.” Advisen Ltd, 2 February 2016. Web. 5 February 2016.

K2 Intelligence’s Ray Kelly: Identify Critical Assets and Narrow Threats

K2 Intelligence is looking to hitch the experience of former New York City Police Commissioner Ray Kelly to its practice, joining other former government officials at the corporate-investigations firm.

Kelly late last year was named vice chairman at K2 Intelligence and will give his insight to the design and development of worldwide clients’ enterprise risk solutions.

Read more at http://www.advisenltd.com/2016/01/29/k2s-ray-kelly-identify-critical-threats-and-narrow-threats/

Hemenway, Chad. “K2 Intelligence’s Ray Kelly: Identify critical assets and narrow threats.” Advisen Ltd, 29 January 2016. Web. 3 February 2016.

2016 Cyber Risk Insights Conference – London

February 09, 2016

08:00 - 18:00 GMT 

155 Bishopsgate

Liverpool St - 155 Bishopsgate 

London, EC2M 3YD

UK

020 3735 4400

Advisen again brings its acclaimed Cyber Risk Insights Conference series to Europe with a full-day event in London addressing the critical privacy, network security and cyber insurance issues confronting risk professionals and their organisations. An expert faculty comprised of leaders in network security, regulation, law enforcement, risk management and cyber risk insurance will offer their insights on managing risk on a rapidly evolving and increasingly dangerous threat landscape. This day of learning and networking for risk managers, CISOs, CROs, insurance brokers, underwriters, reinsurers and other risk professionals will present a global perspective on cyber threats, but also will examine how the European business and regulatory environment influence cyber risk management decisions.

Read more at http://www.advisenltd.com/events/conferences/09/02/2016-cyber-risk-insights-conference-london/

2016 Cyber Risk Insights Conference – London, Advisen Events (February 09, 2016), available with registration at www.advisenltd.com.

Overcome by Cyber Risks?

January 2016

The Internet and related information and communications tools have delivered enormous benefits to the global economy. These gains, however, are expected to tail off as the technologies become more ubiquitous, while the costs and associated risks look set to rise. The million dollar question, then, is whether the costs outweigh the benefits and what we can do to ensure the best possible outcome.

Zurich Insurance Group and the Atlantic Council’s Brent Scowcroft Center on International Security teamed with the Pardee Center for International Future to conduct an extensive quantitative analysis of this issue. Their findings are published in a new report, Risk Nexus: Overcome by cyber risks? Economic benefits and costs of alternate cyber futures.

This content originally appeared in Advisen Ltd. To read the paper, you must download the Overcome by cyber risks? Report.

Unlocking the Value in Cyber Data: Getting a Clearer View of Risk

January 2016

Advisen wrote a white paper that discusses the importance of evaluating the cyber risk of an organization, as well as underwriting and pricing cyber liability coverage. It looks at the importance of combining technology and insurance to improve chances that an organization can more quickly recover from a cyber attack. The free, 8-page paper is sponsored by PivotPoint.

Mitigating Cybersecurity Risks 

Cyber risks have become a major threat that many organizations are wondering whether or not their cybersecurity investments are properly deployed and their insurance programs are as effective as possible.

This content originally appeared in Advisen Ltd. To read the paper, you must download the Unlocking the Value in Cyber Data: Getting a Clearer View of Risk Report.

Safety and Regulatory Trends in Child Day Care

January 2016

Advisen wrote a white paper that examines the current state of child day care in the United States. It looks at current trends in child day care safety, discusses the current regulatory environment, and provides actionable suggestions for how child day care service providers can effectively mitigate risk. The free, 8-page paper is sponsored by CapSpecialty Inc.

Managing Risks in Child Day Care Centers

While it is true that most states have basic health and safety requirements governing child care centers, majority of facilities do not meet the standards set by experts in terms of ensuring child safety and well- being.

This content originally appeared in Advisen Ltd. To read the paper, you must download the Safety and Regulatory Trends in Child Day Care Report.

Cybercriminals Stole More Than Data in 2015: Kaspersky Report

Mobile devices and financial institutions became primary targets for cybercriminals to steal money directly from individuals in 2015, according to a new report from Kaspersky Labs, which took a look at the type of cyber events that occurred most frequently this year and made predictions for the future.

While data breaches at large retailers seem to grab headlines and prompt litigation, Kaspersky found that targeted advanced persistent threat (APT) attacks against banks, government agencies, and other high-profile organizations rose in 2015. Not content to steal names, addresses, Social Security numbers, and other personally identifiable information, criminals interested in money and state secrets more assertively entered the cyber fray this year.

Read more at http://www.advisenltd.com/2016/01/12/cybercriminals-stole-more-than-data-in-2015-kaspersky-report/

Ayers, Erin. “Cybercriminals stole more than data in 2015: Kaspersky report.” Advisen. Advisen Store, 12 January 2016. Web. 20 January 2016.

Cyber Represents Growth Area for Reinsurers: Aon Report

Reinsurers see cyber risk as a necessary area to offer capacity to meet the growing demand on primary insurers from clients and despite the prevalence of data breaches, the reinsurance industry should be able to meet the need, according to a new report from Aon.

“While there is still headline risk from recent data breaches such as Anthem, Inc., Premera Blue Cross, Experian / T-Mobile, and Ashley Madison, it still remains an opportunity for many who are willing to invest in resources to understand the dynamics of cyber as a peril and product,” noted Aon in its report.

Read more at http://www.advisenltd.com/2016/01/12/cyber-represents-growth-area-for-reinsurers-aon-report/

Ayers, Erin. “Cyber represents growth area for reinsurers: Aon report.” Advisen. Advisen Store, 12 January 2016. Web. 18 January 2016.

European D&O Communication More Transparent, Informed

Increased interest by directors and officers in the level and scope of coverage provided by their D&O policy is changing the role of the European risk manager.

According to a panel of risk managers at Advisen’s virtual European Executive Risk Insights Conference (EERIC), there is increasingly a need to provide information.

“Besides being up to date about the technical aspects of D&O insurance, risk managers must provide much more education and explain how the D&O program is designed to respond,” explained Martine Hecq, manager in charge of financial lines, nuclear insurance and captive vehicles, ENGIE.

Read more at http://www.advisenltd.com/2016/01/12/european-do-communication-more-transparent-informed/

Bradford, Josh. “European D&O communication more transparent, informed.” Advisen. Advisen Store, 12 January 2016. Web. 15 January 2016.

US House Committee Seeks Advice From Private Sector on Battling Cyber Threats

Federal lawmakers last week sought to learn from the private sector how to better deal with cyber attacks during a hearing of a subcommittee of the US House of Representatives Committee on Science, Space, and Technology.

The key, according to those testifying, appears to be effort, commitment, and progress on improving, rather than good intentions.

Read more at http://www.advisenltd.com/2016/01/12/us-house-committee-seeks-advice-from-private-sector-on-battling-cyber-threats/

Ayers, Erin. “US House committee seeks advice from private sector on battling cyber threats.” Advisen. Advisen Store, 12 January 2016. Web. 13 January 2016.