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Zala Insurtech News: cyan AG, a cybersecurity provider, is partnering with Wefox Austria, a SaaS platform for insurance brokers, to launch a new offering that includes cyber protection and insurance. The post cyan AG and Wefox Austria Announce Cyber Partnership appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

We're pleased to have Insurtech Insights feature Beazley's latest Risk & Resilience report which explores how businesses perceive increasing cyber threats, tech disruption, and intellectual property risks amid rapid technological advances. Paul Bantick, Global Head of Cyber Risks, Beazley said: “The need for robust risk mitigation strategies has never been greater, and insurance can play an important role. By leveraging the vast amounts of claims, incident, and threat information data we have and translating that into actionable guidance and advising on elevated ‘always on’ resilience for a range of cyber and technology risks, we can help clients to better navigate the risks they face today.” Francisco Donoso, Chief Technology Officer, Beazley Security added: “The increasing sophistication of threat actors has blurred the line between nation-state and criminal cyber activities. This convergence has brought about a new era of unprecedented risks that leave global business leaders feeling unprepared. While investments in protection and defense are essential, security professionals must recognize that security edge devices are increasingly targeted as an entry point in an attack." Read the article: https://lnkd.in/eXArxHFx Read the report: https://ow.ly/WAf250T4bC7

Zala Insurtech News: Zywave, an insurtech developing brokerage software, honoured the best individuals and firms in cyber risk at the 11th annual Cyber Risk Awards, held at Gotham Hall in New York. The post Zywave Announces 2024 Cyber Risk Awards appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

Global cyber threats continue to grow YoY and the cost of cybercrime is expected to surpass $10 trillion in 2025. As a result, the global cyber insurance market is expected to grow to $32.52 billion by 2028. We’re excited to be recognized by Insurtech Insights as one of 10 insurtech disruptors that are charging the path for growth by driving our mission of making the world a digitally safer place. https://hubs.la/Q02Rq7rv0 #CybersecurityAwarenessMonth #InsurtechInsights #BOXX Insurance

As you may know, the recent Microsoft outage led to massive disruptions across sectors. Following this incident, the insurance industry anticipates that policyholders could start making more claims. This is a reminder for insurers to advise their policyholders to have cyber insurance coverage in place to cushion them against the financial impacts of such occurrences. What are your thoughts on this? Please share them in our comment section below. Read more here: https://heyor.ca/rUKLnq #MicrosoftOutages #CyberInsurance #InsurTech

Marsh has launched a new cyber solution via the establishment of Edgware Re, a group captive insurance company. Situated in Bermuda, Edgware Re is a specialised cyber-only group captive, catering exclusively to participating members. ➡ The initiative allows organisations to procure insurance or reinsurance up to US$10 million from Edgware Re, tailored to their specific requirements. Thomas Reagan, Global Cyber Practice Leader, Marsh Specialty, said: “As the scale, frequency, and economic impact of cyber events continue to grow, organisations must regularly reconsider and optimize their cyber risk strategies." Ellen Charnley, President of Marsh Captive Solutions, also commented, saying: “The captive insurance market is a proven risk financing alternative for organisations that want to take greater control of their risk and gain increased financial flexibility and protection.” #insurtechinsights #insurancenews #cyber #insurtech https://lnkd.in/gdjHCfSJ

Zala Insurtech News: WTW has announced strategic enhancements to its global cyber facility, which provides excess cyber insurance coverage worldwide. The post WTW Expands Global Cyber Facility with Increased Capacity and Broader Coverage appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

Zala Insurtech News: Aon has announced a new strategic partnership with cybersecurity leader ReliaQuest, to enhance online safety and improve cyber risk assessment.  The post Aon Forges Partnership with ReliaQuest to Boost Global Cybersecurity appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

We’re delighted to share Issue 7 of our Cyber, Tech and Data Risk Report – our wrap-up of relevant news for the first quarter of 2024 for insurers, brokers and their customers doing business in Australia and New Zealand in the cyber, tech and data fields.   In this issue, we cover a number of developments in Australia, including the Australian Government’s plans to fast-track reforms to the Privacy Act in response to doxxing, the commencement of the consultation phase of the government’s 2023-2030 Cyber Security Strategy, and leadership changes in key privacy and cyber regulatory roles. We also delve into global developments, including the political agenda when it comes to the use of AI in government decision-making, as well as Australia and the UK enhancing their online safety cooperation with the co-signing of an MoU. Read more: https://lnkd.in/gqpGcGtx

Navigating the Regulatory Labyrinth with Confidence! In industries like Banking, Insurance, and Healthcare, every byte of data carries immense weight. With regulations like Basel II, HIPAA, and GDPR, the stakes are even higher. These aren't just guidelines; they're commitments to protect the trust that customers place in these institutions. But here's the good news: With https://Personam.ai , navigating this complex regulatory landscape becomes a breeze. Our cutting-edge, machine learning-powered engine not only fortifies your defenses but also offers unparalleled visibility into security events. This means you're not just reacting; you're proactively demonstrating compliance with every rule, every standard. In a world where timely response to cyber threats can make or break reputations, let Personam be your trusted ally. Because in the game of compliance, we ensure you're always a step ahead. 🚀 #SecureYourTreasure #CyberCompliance