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A roundup of recent cyber related developments, including the black box effect in ship risk profiling, GDPR fines from the ICO, silent cyber risks, cyber threats to the life sciences sector, insuring the emerging offshore digital assets industry and claims transformation in Latin America.
What a week it has been. England have won the Cricket World Cup, and both Marriott and British Airways have been hit for six by the ICO. It’s fair to say that both the England team and the ICO have upped their game.
The ICO has threatened British Airways with a record £183.4 million fine under the GDPR, following a well-publicised Magecart attack last year.
The potentially devastating consequences of large-scale cyber data breaches may be bigger for SME’s, as they lack the same resources to protect themselves against an attack.
In a global insurance environment facing change at an unprecedented rate, the London Market’s experience and expertise remains reassuringly consistent. As 2019 promises to continue down this evolutionary path, we offer our predictions on some of the London Market’s priority areas.
Case review 12/05/2018
We live in a landscape where a rapidly increasing number of organisations collect and process personal data on an immense scale. Systemic failures or successful cyber attacks can easily lead to data breaches that affect a large number of individuals, all of whom are potential claimants.
Cyber attacks represent a growing danger that threatens businesses of all sizes, irrespective of sector. This became increasingly evident in 2017 following the WannaCry and NotPetya attacks and unfortunately, the severity and frequency of attacks is continuing to grow.
GDPR - a 10 step pre-launch checklist
It is often said that data is the new oil of the digital economy.