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Established 1996
Thursday 22 June 2017

BREAKING NEWS

Confidence shrinks over GDPR preparedness

GDPR comes into force in a little less than a year, with marketers’ awareness of the new rules remaining high, but confidence in current levels of preparedness has reduced as the deadline looms.

According to figures released back in February 2017 by the DMA, (Direct Marketing Association), 68% of marketers said their business was on course or ahead of plan to be ready for the GDPR. But in May, this dropped to 55%, with a further 24% of companies yet to start a GDPR plan.

UK firms may be overconfident on cyber security

Senior executives at UK firms may be overconfident about their cyber security protection, according to a survey conducted by research and consultancy firm Ovum for Silicon Valley analytics firm FICO. More than half of executives from UK businesses questioned said they were better prepared than their competitors, and about half of these executives said their organisation was a top performer.

Businesses left exposed by ‘resiliency perception gap’   

Many organisations do not devote enough attention to mission-critical applications when creating disaster recovery plans, and a new report has concluded that one of the biggest reasons is the ‘resiliency perception gap’ - the gap between executives’ perceptions of the effectiveness of their resiliency strategies and how successful these plans actually are at protecting against application outages or downtime.

Other News Stories...

UK product recalls reach new high

The number of UK product recalls has hit a new high, increasing 48% in a year to 575 in 2015/16 from 388 in 2014/15, according to City law firm RPC.

The number of recalls of food and drink products where potentially dangerous allergens had not been properly labelled increased by 62%, to 144 in 2015/16 up from 89 in 2014/15, following the introduction of new EU legislation.

Aviation insurers prepare for post-Brexit continuity

Aviation insurers have launched a model contract continuation clause to ensure policies remain in place after Britain leaves the European Union. The wording has been published by the Aviation Insurance Clauses Group (AICG), a group established in 2005 by the International Underwriting Association of London and the Lloyd’s Market Association.

AIG pilots first multinational blockchain policy

AIG has piloted what it says is the first multinational insurance policy using blockchain. The pilot solution was built for Standard Chartered Bank by IBM and is based on Hyperledger Fabric – a blockchain framework and one of the Hyperledger projects hosted by The Linux Foundation. AIG, Standard Chartered and IBM converted a multinational, controlled master policy written in the UK, and three local policies in the US, Singapore and Kenya, into a ‘smart contract’ that provides a shared view of policy data and documentation in real-time

Recent attacks broadening insurers’ views of commercial risks

The nature and effects of the recent terrorist attacks in London and Manchester are broadening the industry’s understanding of terrorism insurance, and could result in a permanent shift away from policies based on damage to property.

Power transmission and distribution risk
Description
Mark Evans talks to Barry Menzies, head of MIDEL ester-based dielectric fluids, at specialist manufacturer M&I Materials, to discover how ester fluids can help reduce the risks associated with transformer applications.
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Power transmission and distribution risk
Description
Mark Evans talks to Barry Menzies, head of MIDEL ester-based dielectric fluids, at specialist manufacturer M&I Materials, to discover how ester fluids can help reduce the risks associated with transformer applications.
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Deborah Ritchie provides a summary of some of the latest stories in business risk, insurance and resilience
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