The UK is underestimating the risks it faces from hostile states and gangs and must take collective action against an increasing complex set of threats. The warning from Richard Horne, CEO of the National Cyber Security Centre, accompanies the launch of the NCSC’s annual review which highlights a growing threat from state actors.

The use of warranty and indemnity insurance grew to record levels during the first half of 2024.
This is amongst the findings of a study carried out by specialist transactional risk insurance broker, HWF Partners, which shows that 1,540 policies were placed in the first six months of 2024. At the same time, claim numbers under W&I policies have increased alongside payments to insured parties.

Professional indemnity rates have seen a surprise fall, according to the latest UK PI Market report from Clyde and Co. Over half of the respondents to the research expect there to be a levelling off of the market after two years of increases – with zero rates increases in 2024. However, rates have subsequently fallen at unprecedented speeds, driven by the entry of new carriers or MGA capacity.

Businesses can expect a continued influx of class action cases as we move into 2025, according to dispute resolution lawyers at Fladgate, with a perceived unfairness among consumer and consumer rights activists the major driver.

Social engineering and ransomware attacks are expected to dominate the cyber risk landscape in 2025, according to security operations consultants at Arctic Wolf Labs. It says weaknesses in identity and access management systems, alongside a continued rise in voice phishing techniques, will also continue to be exploited to gain unauthorised access to target networks.

Zurich Resilience Solutions, the commercial risk advisory and services unit of Zurich Insurance, has launched an interactive digital solution that utilises climate data to provide businesses with insights to better anticipate, mitigate and manage their climate risks.