Posts Tagged ‘technology’



April 17th, 2019

Evolving Regulatory Pressures Signal Potential Turning Point in Cyber Risk Management Strategies

Posted at 1:00 AM ET

Siobhan O’Brien, Head of the Cyber Center of Excellence for International and Global Specialties

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Cyber risk presents an exciting opportunity for re/insurers, but as one of the most dynamic perils in the industry, regulators are formalizing capital requirements and quantitative and qualitative measurements of risk appetite. In the United Kingdom, the Prudential Regulation Authority (PRA) is now asking (re)insurers to develop a silent cyber action plan by the end of the first half of 2019 and will conduct deep-dives on select firms in the second half to assess how they are meeting expectations described in a 2017 supervisory statement. It will then further assess affirmative cyber risk via an exploratory stress test later this year.

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April 15th, 2019

When the Going Gets Tough, the Tough Get Going: Overcoming the Cyber Risk Appetite Challenge

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallThe scale of recent attacks and resulting media attention, supervisory pressures to upgrade cyber risk management and the pace of technology innovation to keep up with are increasing rapidly. These factors are compelling financial institutions to have a clear understanding of the cyber risks they face, and to determine the level of cyber risk the institution is willing to accept.

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April 9th, 2019

Insurance Risk Management 2025: Navigating the Digital Future

Posted at 1:00 AM ET

How could the insurance industry look in 2025, and what are the implications for the Risk function? A video from Guy Carpenter affiliate Oliver Wyman offers a futuristic glimpse of a rapidly evolving industry.

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April 8th, 2019

Amid Regulatory Scrutiny Financial Institutions Must Monitor Third-Party Cyber Risk

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallCybersecurity ranks among the top concerns for banks, insurers, and other financial institutions, which can represent prime targets for cyber-attackers and be vulnerable to potential disruptions because of their often-complex technology systems and the valuable financial assets and rich customer data they can hold.

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March 25th, 2019

A Risk Overview of Wildfire

Posted at 1:00 AM ET

Today, the frequency and severity of wildfires are garnering greater attention-not only from the media, but also from (re)insurers, catastrophe modelers, mitigation experts and other invested parties.

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March 12th, 2019

MMC Cyber Risk Handbook 2019

Posted at 1:00 AM ET

cyber-handbook-cover-image-smallCyber risk is a critical concern for business leaders. According to the World Economic Forum’s 2018 Executive Opinion Survey of more than 12,500 executives, large cyber-attacks are ranked as the #1 risk for doing business virtually across all advanced economies. As companies develop their approach to this dynamic and challenging threat in 2019, there are some emerging trends that they should consider.

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March 11th, 2019

Prioritizing Business Risks in Japan

Posted at 1:00 AM ET

In 2019, technological and geopolitical threats continue to be at the center of the risk landscape for businesses in Japan. Other vulnerabilities have also resurfaced, notably the persistent threats of natural catastrophes, the country’s tight labor market and the specter of an asset bubble.

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February 13th, 2019

IoT Devices Increase Security Incident Risks

Posted at 1:00 AM ET

Industrial control systems, smart buildings and homes, pacemakers, cameras, and even fish tanks - all of these Internet of Things (IoT) products have been hacked by cyber-attackers looking to disrupt networks and extort money from users, says the report The US Financial and Professional Lines Market in 2019: Our Top 10 List by Guy Carpenter’s affiliate company, Marsh. Continue reading…

February 11th, 2019

Cybersecurity, Strategic and Financial Risks to Dominate Risk Landscape

Posted at 1:00 AM ET

thumbnailAccording to nearly 400 treasury professionals surveyed, strategic and financial risks, along with cybersecurity, will dominate the risk landscape for the next 18-36 months.

This finding from the 2019 AFP Risk Survey: The Evolving Treasury Ecosystem highlights the challenges facing finance and treasury professionals as they help their organizations navigate the deep disruption occurring across all economic sectors. Continue reading…