More information regarding human-based cyber defence is available at Human Element Security, and in the 2014 Cyber Security Intelligence Report published by IBM. If you would like to discuss Cyber Risk Management and insurance, please contact us. Large-scale studies such as IBM’s 2014 Cyber Security Intelligence Index reveal that 95% of all security breaches are […]

Another day, another cyberattack: just last week, two major Canadian banks – Bank of Montreal and Canadian Imperial Bank of Commerce – revealed that they had been contacted by cyberattackers claiming to have stolen the data of nearly 90,000 customers, in what was described as the first significant assault on financial institutions in the country. […]

It looks like the message is finally getting through after a recent survey found over half of Australian and New Zealand businesses increased their cyber security spend last year. A new report by Australia’s Cyber Emergency Response Team (AusCERT) showed that 58% of organisations across the region bumped up their spending in 2017.   The […]

A senior underwriter has urged brokers to further educate their clients on cyber risk, saying criminals are still having alarming success with traditional methodology. Speaking at a webinar earlier this week, Gerry Power – Emergence’s national head of sales – told the 1,100 attendees that hacking was involved in 48% of breaches, while malicious software […]

Shareholder class action lawsuits could soon make their presence felt in the cyber insurance market, an expert has said. According to Bloomberg, tech giant Yahoo last month reached an $80 million settlement with investors over claims that executives concealed data breaches following an attack thought to have shaved US$350 million off the valuation of the […]

In the short time since the late February rollout of Australia’s mandatory breach notification scheme, the privacy commissioner has already been notified of 31 breaches, an Aon expert has said. Fergus Brooks, cyber risk practice leader at Aon Australia, said that statistics released by the privacy commissioner last week highlight the impact mandatory breach notification […]

The rise in cyber attacks is forcing companies to rethink their approach to risk management, according to a new report from Marsh & McLennan Companies’ Global Risk Centre and education and development organization WomenCorporateDirectors (WCD). “With increasing threats of attack on their data and systems, boards are demanding much more information about their organizations’ risks […]

Can your business afford to be without insurance for Breach Notification costs? Arranging cover is not as daunting, or as expensive as it may seem. Contact us to discuss. Australia is one of the strictest countries in the Asia-Pacific region when it comes to data breach penalties, a new report has found. The Data Risk […]

One in three Australian adults fell victim to some form of cybercrime last year, costing the economy $2.3 billion. Research released in Norton by Symantec’s Cyber Security Insights Report shows more than six million people fell victim to identify theft, credit fraud or had their passwords compromised. READ MORE: All the people who knew about […]