AGCS report highlights cyber risk trends driving the surge in ransomware incidents, such as double and triple extortion and supply chain attacks. Business interruption and recovery are the main causes of financial loss for companies. Many attacks could be prevented if companies strengthen their cyber security and controls – often with simple measures. During the Covid-19 crisis another outbreak has …

Allianz Risk Barometer 2021: Covid-19 trio tops global business risks   10th Allianz survey: Business interruption, Pandemic outbreak and Cyber incidents are the top three business risks for 2021 – all strongly interlinked. Pandemic outbreak rockets to #2 from #17 and is seen as main cause of business interruption in 2021, followed by cyber. Companies look to de-risk supply chains …

Flooding of the Hidroituango hydropower dam in Colombia in 2018 during construction is estimated to cost insurers around $1.4bn, one of the largest engineering claims in history. Projects are increasingly complex, often with values in the tens of billions of dollars, and can run for decades. Fire and explosion incidents most expensive losses globally. Defective product and business interruption claims …