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  • 2 September 2015

    Bank of New York Mellon computer glitch – cyber or professional indemnity insurance?

    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. 

    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.

    cyber insurance
  • 2 October 2014

    Controlling the Cyber Challenge

    2014 is expected to be a record year for business affected by Cyber crime. Organisations need to take notice of a broadening agenda of Cyber risks and be aware that regulatory pressures on businesses are set to increase with the introduction of the new EU Data Protection Regulation, which is likely to encourage an even more robust compliance environment.

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