Crisis communications for a hostile cyber risk landscape

spike

We’ve seen that strategy in multiple high-profile ransomware attacks this year, including the attacks against meat processing giant JBS, the Colonial Pipeline, and insurance company CNA Financial Corp. Interestingly, not only did all three companies publicly disclose relevant details of their attacks, but they also revealed that they had paid ransoms of approximately US$11 million, US$4.4million and US$40 million, respectively, to free up their systems.

Read next: What now happens in the majority of cyber incidents?

These are not decisions that any company takes lightly. In fact, most companies will require the help of a crisis communications expert to guide

Read More

IT’S ALL OVER: Aon and Willis Towers Watson abandon merger

spike

Aon CEO Greg Case commented: “The DOJ position overlooks that our complementary businesses operate across broad, competitive areas of the economy. We are confident that the combination would have accelerated our shared ability to innovate on behalf of clients, but the inability to secure an expedited resolution of the litigation brought us to this point.”

Despite their 16-month long courtship coming to an end, there seem to be no hard feelings between Aon and Willis Towers Watson.

“Over the last 16 months, our colleagues have turned potential challenges into opportunities to advance our Aon United strategy. We built on our

Read More

Lloyd’s unveils new senior independent director and deputy chair

spike

Lloyd’s has swooped on a major name for its council.

It has brought in Mark Sedwill, Baron Sedwill of Sherborne, in the role of senior independent director and deputy chair, taking the role previously held by Andy Haste.

“Lloyd’s is a world-class British institution which is vital to the future of the City and UK financial services,” he said. “I am honoured to have been invited to contribute to that future and look forward to joining the team.”

Sedwill’s appointment has received approval from the Prime Minister and remains subject to the approval of the Prudential Regulation Authority and the

Read More

Chinese insurers facing wave of claims following Henan floods

spike

According to a report by Global Times, near-nonstop rains over several days have destroyed numerous houses and vehicles and left thousands of people stranded. The insurance industry launched an immediate response, with various measures such as fast lanes for claim settlement and the removal of limits on bills for treatment and medicine at designated hospitals.

Ping An Insurance said that it has received over 20,000 claims linked to the flooding, resulting in approximately RMB600 million in settlements.

A certain Mr Li, who works as client service staff at Ping An’s Henan branch, told Global Times that the insurer has

Read More