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Companies hit with $1.8 billion cyber losses,six-fold increase in 2020 :Hiscox study

Jun 23, 2020

The highest recorded cyber loss was $87.9 million from a financial services firm in the UK.More than 6% of total respondents paid a ransom. Their combined losses came to $381 million.However the positive signs are that twice as many firms responded to a breach by adding new security and spending more on employee training.
There has been a shift in the hackers’ behaviour in the last six to 12 months as they focus more on industries such as energy and manufacturing.

Munich Re launches automated underwriting solution in APAC life insurance market

Jun 23, 2020

“The life insurance industry is evolving and insurers who embrace the latest technologies can reach customers in new and innovative ways, gaining a competitive advantage. This is especially crucial in challenging market environments such as these. With the ability to get up and running quickly, ALLFINANZ SPARK enables firms to ignite the digital underwriting experience faster than ever before, providing  the services they need to reach new customers and new markets.” says Declan O’Neill, Executive Vice-President for Product & Data at Munich Re Automation Solutions.

Major quake shakes southern Mexico, at least six killed

Jun 23, 2020

Houses were scarred by wide cracks across walls and residents sought to clear debris from the streets. About 200 houses in the area were damaged, including 30 that were badly impacted, a local official said.

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