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Middle East Crisis: More oil tankers idle in Persian Gulf as attacks disrupt Hormuz
More than half of the world’s largest maritime insurance clubs have...
Middle East Crisis:Global Marine re/insurers issue notices of cancellation(NOC) under standard 7-day war clauses
Additional premiums for vessels transiting high-risk waters are...
CrowdStrike Chaos: (Re)Insurers could withstand preliminary loss estimates, says Fitch
``We expect claims will be mostly within the retentions of primary insurers,'' said Fitch Cyber risk remains difficult for insurers to assess due to the dynamic root causes of claims. Challenges include a lack of effective, widely accepted modeling tools and a limited...
US, European regulators sign joint statement on effective AI competition
Generative AI has rapidly evolved in recent years and the "technological inflection points" could introduce new means of competing, catalyzing opportunity, innovation and growth, the statement said Regulators in the United States, European Union and Britain have...
Somali piracy revives sharply after yrs of quiet
There were eight acts of piracy and hijackings in the first half of this year near the east African country, the International Maritime Bureau, a Kuala Lumpur- and London-based monitoring organization, said in a report Somali piracy — the scourge of merchant shipping...
Without backup plans, global IT outages will happen again
“I’m sure the regulators globally are looking at this. There is limited competition globally for operating systems, for example, and also for the large-scale cybersecurity products like the ones CrowdStrike provides,” said Nigel Phair, a cybersecurity professor at...
Insurers face business interruption claims after global tech outage
"Some cyber insurance policies exclude non-malicious events, and there are waiting periods and deductibles that businesses will have to consider before making a claim with their insurance carriers," said Nir Perry, CEO at CyberWrite, a cyber insurance risk platform...
Microsoft says about 8.5 million of its devices affected by CrowdStrike-related outage
CrowdStrike has helped develop a scalable solution that will help Microsoft's Azure infrastructure accelerate a fix, Microsoft said, adding that the tech giant had worked with both Amazon Web Services and Google Cloud Platform to collaborate on the "most effective...
Microsoft outage: CrowdStrike explains what exactly went wrong
George Kurtz, CrowdStrike's CEO, said in a post on X that CrowdStrike had deployed a fix for the issue. "This is not a security incident or cyberattack," he wrote. However, it is not clear how easily the affected systems can be fixed remotely, as the "Blue Screen of...
US issues warning on Microsoft outage, Nadella says working to bring systems back online
“Threat actors continue to use the widespread IT outage for phishing and other malicious activity. CISA urges organisations to ensure they have robust cybersecurity measures to protect their users, assets, and data against this activity,” it said in a statement San...
Major global IT outage grounds flights, hits banks and businesses around the world
A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of disruptions that have been reported: AIRLINES,...
Global tech outage disrupts industries, highlights risks of interconnected world
A software update by global cybersecurity firm CrowdStrike appeared to have triggered systems problems that grounded flights, forced some broadcasters off air and left customers without access to services such as healthcare or banking A worldwide tech outage crippled...