Patrick Cannon FCII

Leveraging claims preparation coverage within cyber policies can lead to quicker resolutions for cyber business interruption claims. On 15 October, the LMA invites you to explore the question: Is There a Better Way to Handle Cyber BI Claims? Full members can register here: https://lnkd.in/emQrkDk4

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Hodson PI can help you find the answers you're looking for. Contact Hodson PI to investigate a claimants car accident. #accident #accidentinvestigation #edr #eventdatarecorder #privateinvestigation #insuranceinvestigation

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The demand for cyber cover is increasing 📈 Our Spotlight Course: Cyber Risk and Insurance looks at cyber risk insurance and policy coverage and how it relates to underwriting, claims handling and broking. This course is designed for all insurance and risk professionals. Find out more: https://ow.ly/1xRk50Qz43L ⬅️ #CII #CPD #Courses #CyberRisk #Insurance

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In this knowledge sharing series – our Chief Technology Officer Cameron Fairbairn shares his frontline experience of cyber risk insurance. From the ILOVEYOU virus in 2000 to the cyber risk insurance awakening, read on and follow us to learn more >>>    #cyberrisk #cyberinsurance #insurtech #innovation #infosec #cybersecurity   

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Lloyd's is upping the bar in its oversight of cyber re/insurance exposures and exclusions on state-backed events, adding phase out dates for non-compliant covers and target dates for proper cover of policies affirming war-related coverage. Read the full update here: https://ow.ly/Zq4s50RGR1g

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More than a third (37%) of UK businesses reported that their cyber security measures had been compromised due to a lack of internal expertise in managing emerging technology risks, according to new research from insurer Hiscox. Its annual Hiscox Cyber Readiness Report 2024, published on 24 October 2024, polled 2,150 professionals responsible for cyber security strategies – including 250 from the UK – between 12 August and 2 September 2024. This survey revealed that 34% of UK business leaders felt unprepared to handle a cyber attack – despite the fact that 70% of UK-based respondents had experienced an increase in cyber attacks over the past 12 months. The research also found that 70% of UK firms had integrated generative artificial intelligence (AI) into their business practices, with 57% believing that this technology would significantly impact their company’s cyber security risk profile. Eddie Lamb, chief information and security officer at Hiscox, said: “Businesses need to see technological innovation and cyber security as complementary, rather than conflicting, forces. ”Business leaders will need to continue to invest in attracting the right expertise to manage emerging technology risks if they are to not just survive but thrive in a world of expanding technologies with their reputations intact.”

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Nearly 50% of UK businesses reported cyber attacks in the past year, with larger organisations facing higher frequency and greater recovery costs*. As technology evolves, so do the risks. Ensure your cyber liability insurance scales with your business growth. We're committed to helping you assess your needs and secure the right coverage to safeguard your operations from emerging threats. Find out more - https://lnkd.in/es7tr4sn *Source: Cyber Breaches Survey April 2024 #CyberSecurity #BusinessProtection #RiskManagement #CyberInsurance #DataProtection #CyberRisk #CyberLiability #InsuranceBroker

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Nearly 50% of UK businesses reported cyber attacks in the past year, with larger organisations facing higher frequency and greater recovery costs*. As technology evolves, so do the risks. Ensure your cyber liability insurance scales with your business growth. We're committed to helping you assess your needs and secure the right coverage to safeguard your operations from emerging cyber threats. Find out more - https://lnkd.in/eBQaffQf *Source: Cyber Breaches Survey April 2024 #CyberSecurity #BusinessProtection #RiskManagement #CyberInsurance #DataProtection #CyberRisk #CyberLiability #InsuranceBroker #NorthernIreland

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Working in the Cyber market for 20 years means we have a wealth of experience in cyber claims exposures. In a market with many new entrants, the Claims service is worth a huge amount when it comes to choosing your insurer. https://lnkd.in/euYVgDzD #cyber #cyberinsurance #lloydsoflondon

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From financial mis-selling and data breach to Japanese knotweed and diesel emissions, more law firms are looking to act in consumer claims. The first Claims Futures Conference on 12 Nov will look at how to make a success of this exciting area of practice. https://zurl.co/QE8y

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From financial mis-selling and data breach to Japanese knotweed and diesel emissions, more law firms are looking to act in consumer claims. The first Claims Futures Conference on 12 Nov will look at how to make a success of this exciting area of practice. https://zurl.co/QE8y

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Continuing our series on the ‘Eight golden rules of cyber risk’, in this latest video on rule number two Georgy Matov FIA MSc BSc (Hons), Senior Director, Insurance Consulting and Technology, shares why highly sophisticated active portfolio management with market leading technology is critical to an insurers' business. Georgy highlights the link between insurance companies that invest in portfolio management capabilities and business performance. 👉 To find out more about these golden rules and how we are helping insurers navigate emerging cyber risks, get in touch with us at [email protected] #Cyber #CyberRisk #CyberUnderwriting #CyberAwarnessMonth

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1 Comment

𝑰𝑵𝑻𝑬𝑹𝑵𝑨𝑻𝑰𝑶𝑵𝑨𝑳 𝑭𝑹𝑨𝑼𝑫 𝑨𝑾𝑨𝑹𝑬𝑵𝑬𝑺𝑺 𝑾𝑬𝑬𝑲 The Nat’l Assoc of Insurance Commissioners lists 'fraud committed by insurers' first in their definition of Insurance Fraud.  We all acknowledge that insurer-side fraud exists, but why are there NO arrests? Why are fraudsters who work for insurers or the TPA’s & Engineering firms they hire not held criminally accountable for stealing from consumers? Fraud happens on ALL sides, all we ask is that it be enforced on ALL sides. #Insurance #FinancialCrimes #InsuranceClaims #Prosecution #WhiteCollarCrime #InsurerFraud

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The FCA urges insurers to ensure they can demonstrate fair value and good customer outcomes in line with the regulator's requirements. TCC's compliance experts are already seeing the impact of the recent FCA review into product governance of insurance products, which is why insurers need to take urgent action >> https://bit.ly/3Zbmval #compliance #regtech #insurance #insurers #brokers #FCA #consumerduty #fairvalue #customeroutcomes #regulatorycompliance

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💢Have you checked out the latest Hiscox Cyber Readiness Report?💢 The results are alarming: ⚠️ 67% of firms have experienced more cyberattacks in the past 12 months. 📈 The average number of attacks per organisation rose from 63 in 2022/23 to 66 in 2023/24. 📱 44% of firms attribute their heightened cyber risk to an increase in employees using personal devices for work, introducing vulnerabilities such as phishing and accidental data breaches. It's vital, now more than ever, to ensure that your organisation is equipped with the right tools and strategies to mitigate these threats. Check out the full report here. 👉 https://bit.ly/3YfnFjf #Cybesecurity #ITDistribution

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Did you know that 71% of UK businesses see cyber security as a high risk? However only 63% have cyber cover. So why should you have insurance? We have 6 good reasons! Contact our #cyber insurance experts today to find out more https://lnkd.in/ePgTTBHu #NationalCyberSecurityAwarenessMonth #CyberInsurance Aviva Broker UK

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We are pleased to have worked with Gallagher Re on this new white paper. It discusses how Counterfactual Analysis can help (re)insurers overcome the challenges of identifying cyber risk in their portfolios. Read it here: https://hubs.ly/Q02s-yhH0

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