17 March 2016
Welcome to the latest instalment of the Arthur J. Gallagher Financial Institutions Risk Bulletin.
Here we review the largest reported attempted computer crime to date and examine how financial institutions can stay protected. In addition, we detail another UK IPT increase following the Government’s budget and announce some major recent appointments in the Financial Institutions insurance market.Read more...
26 November 2015
Just as a car isn't usually responsible for a crash, technology isn't often the cause of a cyber incident. The car gets us from A to B quickly and technology lets us work faster, more productively and from anywhere we happen to be at a given time.Read more...
16 November 2015
Don’t do anything digital without thinking ‘mobile first’, make sure you engage the right people from the outset of every project — from cyber security experts to designers, and remember that success in the digital space is wholly dependent on being found in the first place through the power of search. These were just some of the key broker takeaways from the Digital Think Tank debate chaired by Insurance Age and held last Thursday during Broker Expo at the Ricoh Arena in Coventry.Read more...
9 September 2015
Welcome to the September 2015 edition of the Arthur J. Gallagher Financial Institutions Risk Bulletin.
Hackers at the gate: protection against computer crime
The risk to financial institutions posed by computer crime has increased exponentially in the last decade and there have been numerous instances of high value computer crimes of staggering ingenuity and scale.
In this edition we discuss cyber fraud and the implications to computer crime insurance coverage.Read more...
2 September 2015
A recent article in the Financial Times (26th August - Funds scramble to assess computer glitch) has documented the problems experienced by one of the largest custodian banks as the result of a computer glitch.Read more...
In short, it appears that the computer systems used by the bank to calculate the Net Asset Values (NAVs) of its fund clients has suffered problems following a failed software upgrade by one of its suppliers. This may have led to investors buying or selling funds at inaccurate prices and the funds in question being unable to disseminate accurate price information.