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(844) 627-8267 | Info@NationalCyberSecurity

Insurance broking sector’s vulnerability to cybercrime uncovered | #cybercrime | #infosec

Insurance broking sector’s vulnerability to cybercrime uncovered – Insurance Post


More than 38,600 pieces of data have been leaked from the top 75 UK insurance broker domains since 2016, according to a scan of the dark web conducted on behalf of Insurance Post.

The global cyber insurance market is forecast to grow from $16.7bn (£13.4bn) in direct written premiums in 2022 to $33.4bn in 2027, according to Global Data resulting in the likes of Aviva and Axa

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FCA extends latest product governance survey deadline

Having originally given brokers only a few weeks to send back a “demanding” survey into product governance and distribution practices, Post can reveal the FCA has extended its deadline from 11 August to 1 September.

Icmif CEO to tackle climate change before he retires

Before stepping down as CEO of the International Cooperative and Mutual Insurance Federation, Shaun Tarbuck plans to stop insurers simply talking all all ‘blah blah’ and PR, and get them actually tackling climate change.

How insurance boardrooms are changing

Data analysis: An EY survey has reviewed the movements of board members, with insurance showing a higher turnover rate than last year, which might be representative of new focuses within the boardroom.

Axa XL’s carbon emissions product; Defaqto’s updated Matrix software; Flock appoints CFO

Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.

FCA to make Digital Sandbox permanently available for insurers

Following two successful pilots, the Financial Conduct Authority will make its Digital Sandbox available permanently for firms in the insurance sector from 1 August 2023.

Business fraud market to increase nearly 20% by 2025

Allianz Trade claims the current business fraud market GWP in the UK is around €280m (£244m), and it is expected to increase to €330m by 2025.

Bain Capital is back after LV deal fallout

Bain Capital Insurance is focused on pursuing middle market transactions in North America and Europe after it announced the final close of its inaugural private equity fund at $1.15bn.

Zero GI insolvencies brings FSCS compensation down for 2022/23

The Financial Services Compensation Scheme has reported that for the year ending 31 March 2023, it paid £163m in compensation for general insurance providers, £23m less than the year before.

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