Articles about Insurers

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New UK laws address driverless cars insurance and liability

Insurers would be primarily responsible for paying out damages stemming from accidents caused by "automated vehicles" under new UK legislation laid before the UK parliament. The Vehicle Technology and Aviation Bill sets out how the liability for accidents involving automated vehicles should be apportioned, and factors in …
OUT-LAW.COM, 24 Feb 2017
Sherlocks

Analyse this: IBM moves Watson machine learning to mainframes

IBM is adding the machine learning technology from Watson to its z/OS mainframe for smarter, faster analytics of transaction data. Big Data analytics is typically applied to unstructured data in the Hadoop world. By contrast, older data warehousing and business intelligence (DW/BI) products are applied to structured data in …
Chris Mellor, 16 Feb 2017
Money down the drain

Avaya's bankruptcy protection is a 'good thing,' says Europe North veep

Ronald Rubens, Europe North veep at telecommunications biz Avaya, is busy doing some serious damage limitation, after the US Avaya parent company filed for bankruptcy protection earlier this week. When Rubens and Gary Barnett, senior VP and general manager of engagement solutions at the biz, spoke to El Reg last week, it was …
Kat Hall, 30 Jan 2017
Insurance guys photo via Shutterstock

Sayonara North America: Insurance guy got your back when Office 365 doesn't?

Move to the cloud, they said, everything will be better, they said. Security, reliability, scale. We take the work and the worry off your hands. Except nothing is that simple or straight forward – and that includes cloud. When your IT ran the tin and it crashed, they weren’t running your entire business. If a server flamed out …
Danny Bradbury, 21 Dec 2016
Frustrated accountant puts head in hands. Photo by Shutterstock

Cyber insurance brokers: If it makes you feel any better, 2016 was not our year either

Insurers are handling "hundreds" of breach claims, according to figures from CFC Underwriting. CFC Underwriting said it handled more than 400 claims against cyber-breach policies it issued this year alone. The rise in data breaches and money transfer scams are driving the increase. Claims on CFC policies almost doubled year …
John Leyden, 19 Dec 2016

Fitbit picks up Pebble, throws Pebble as far as it can into the sea

Smartwatch maker Fitbit has confirmed it has bought competitor Pebble – for an undisclosed sum – but only its software. Pebble products are on the scrapheap. The announcement comes a week after news of the purchase leaked, but many had assumed Fitbit would continue to support existing Pebble watches and slowly merge the two …
Kieren McCarthy, 07 Dec 2016
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UK.gov's pricey Five Year Plan to see off cyber thugs still in place

UK Chancellor Philip Hammond is due to reaffirm a pledge to spend £1.9bn up until the end of 2020 to bolster the UK’s cyber security strategy in a speech early this afternoon. The updated strategy [84-page PDF] - which doesn’t include any new spending pledges1 - is expected to include an increase in focus on investment in …
John Leyden, 01 Nov 2016

Pound falling, Marmite off the shelves – what the UK needs right now is ... an AI ethics board

Analysis The UK government has been urged to establish an AI ethics board to tackle the creeping influence of machine learning on society. The call comes from a Robotics and Artificial Intelligence report published yesterday by the the House of Commons science and technology select committee. It quotes experts who warned the panel that …
Katyanna Quach, 13 Oct 2016
Frustrated accountant puts head in hands. Photo by Shutterstock

Financial Conduct Authority: No need to look any closer at insurers’ use of Big Data

The Financial Conduct Authority has said there’s no need to launch a full market study into insurers’ use of big data, despite concerns that insurers' could be using to charge consumers more. Following a call for inputs last year on the use of data and analytics in home and motor insurance, which returned 27 written responses …
Phone on fire, photo via Shutterstock

Brexit makes life harder for an Internet of Things startup

At about the time when my startup will be wanting to sell to the EU at scale, Brexit may make 80 per cent of that market harder (more expensive) to reach. I run a green-tech startup, OpenTRV, selling smart radiator valves. Our natural core market is the EU (including the UK), which comprises about 500 million people and about …

SSP to PERMANENTLY shutter mega-outage bit barn

Insurance tech biz SSP Worldwide has decided to “permanently decommission” one of its data centres, following a huge outage that lasted for ten days. A power blackout hit SSP’s Solihull Data Centre on 26 August, which fried its HPE Storage Area Network. SSP was working with the US vendor to resurrect its systems when the work …
Kat Hall, 07 Sep 2016
Pop art-style illustration: Woman holds head in despair. Illustration via Shutetrstock

Tech-for-insurers biz out of action for 10 days now. Hope they had, er...

Hapless insurance tech biz SSP Worldwide is now on its tenth day of a services outage, which has had a huge impact its broker customers. The company was hit by a power blackout on 26 August that fried its HP Storage Area Network. Halfway through the process of a restoration six days later, the business was struck with further …
Kat Hall, 05 Sep 2016

SentinelOne's $1m ransomware guarantee dismissed as PR stunt

A “ransomware guarantee” from security outfit SentinelOne has been dismissed by critics as a marketing stunt. Ransomware is currently the biggest scourge of internet security, affecting corporates and consumers alike. So self-styled next generation endpoint security firm SentinelOne unsurprisingly created waves with a pledge …
John Leyden, 29 Jul 2016
Woman motorist waves from a red car. Photo by Shutterstock

What Brexit means for you as a motorist

The UK has voted in favour of leaving the European Union and in the past few days the markets have reacted violently, plunging the pound to its lowest level against the US dollar since the mid-1980s. Nobody’s really sure what the future holds for the UK or for its economy, but the referendum result has gone against the wishes …
Ryan McElroy, 29 Jun 2016
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Happy mode, sad mode, DevOps mode: Stop worrying and go bimodal

There’s a debate going on right now about the best way to run IT: specifically, all those custom applications and services inside organizations. Do we try new, agile approaches, or stick to the old, methodical processes? Gartner did much to start this discussion with their bi-modal concept: Bimodal IT is the practice of …
Michael Coté, 15 Jun 2016
Frustrated accountant puts head in hands. Photo by Shutterstock

Insure against a cyberwhat now? How the heck do we crunch those numbers?

The head of a UK industry insurance organisation has called for the government to create a database where companies would be obliged to “record details of cyber attacks”. Insurers are struggling to assess premiums for newly introduced cyber insurance policies in the absence of background info, according to the head of the …
John Leyden, 24 May 2016
Trillian chats to a depressed Marvin the Robot in the 2005 film version of Hitchhiker's Guide to Galaxy. C Walt Disney Pictures

Food for Deep Thought: 42 is IBM's answer to Life, the Universe and Everything...

Analysis Deep Thought calculated the number 42 to be the Answer to the Ultimate Question of Life, the Universe and Everything. Over at IBM it was the frequency the word "transform" was used to explain another dire quarter. The supercomputer in The Hitchhiker's Guide to the Galaxy took 7.5 million years to determine the importance of …
Paul Kunert, 29 Apr 2016
DAve_Richards

WANdisco boss: 'We're seeing a humongous movement to the cloud'

+Comment WANdisco has active-active replication technology that's been used for disaster recovery and other business continuity-type uses. That's all well and good but not epoch-making or associated with major disruptions ... until now. If what WANdisco CEO and cofounder Dave Richards says is true, the entire on-premises IT …
Chris Mellor, 03 Mar 2016
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Firms must ensure shared service suppliers have 'sufficient financial resources'

Banks, building societies and investment firms must ensure that technology companies providing critical shared services have "sufficient financial resources" to overcome financial problems, a UK regulator has said. The Prudential Regulation Authority (PRA) said that before they outsource critical shared services firms must …
OUT-LAW.COM, 24 Dec 2015
Ashlee Vance, Elon Musk: How the Billionaire CEO of SpaceX and Tesla is shaping our Future

SpaceX starts nine-day countdown to first flight of the new Falcon

SpaceX is back in the orbital delivery game, with the first launch since its explosive mishap in June. Aiming for Falcon rocket static fire at Cape Canaveral on the 16th and launch about three days later — Elon Musk (@elonmusk) December 10, 2015 It has been a rocky six months for Elon's Musketeers since the June explosion, …
Iain Thomson, 10 Dec 2015

Target settles with banks for $40m after data breach

Retail giant Target has agreed to shell out $39.4m to banks and credit unions who had pursued the company following losses suffered after an enormous data breach. Target has now resolved the class-action claims following lenders seeking to hold the company to account for reimbursing defrauded customers. $20.25m will be paid to …
money_987_648

How cyber insurance actually works

A couple of weeks ago El Reg carried an article by Mark Pesce about the likely evolution of Cyber Insurance. Reg reader and insurance industry veteran Tom Whipp agreed with most of his sentiments, but wasn’t so keen on his conclusions and demanded his stint on the Reg soapbox. So, take it away Tom. I’ve worked in security and …
Tom Whipp, 23 Nov 2015

FCA paves way for cloud computing in UK financial services

The Financial Conduct Authority (FCA) has paved the way for banks, insurers and other financial services companies to take advantage of cloud computing services, so long as "appropriate safeguards" are in place, said one commentator. In proposed new guidance on cloud and other IT outsourcing (PDF), the regulator said there is …
OUT-LAW.COM, 17 Nov 2015
hacker

US, UK big banks to simulate mega-hacker cyber-attack

A mock exercise will take place this month to test how major banks respond to a major cyber attack, according to a newspaper report. The joint UK and US initiative, Operation Resilient Shield, will be "the most sophisticated test … yet" of the way industry communicates and coordinates its efforts in response to cyber security …
OUT-LAW.COM, 05 Nov 2015

UK finance sector: IT security testing 'becoming close to mandatory'

Regulators are nearly at the point of requiring major financial services companies to participate in a cyber security testing programme, according to the Bank of England. Minutes from a meeting of the Bank's court of directors on 16 September (10-page / 45KB PDF) provide detail of some of the efforts being taken to improve " …
OUT-LAW.COM, 30 Oct 2015
Google car

Insurance companies must start buying security companies

The Insurance industry encompasses a very odd paradox: it wouldn’t exist without risk, yet does everything in its power to remove any risks for its policy-holders. Insurers only make money if they don’t pay out, and they won’t pay out if they can keep you from doing any of the things they’ve identified as risky. We’re already …
Mark Pesce, 29 Oct 2015
The Mosque at the Taj Mahal, shot from within the Taj Mahal through the marble screens

Microsoft flicks switch for three Azure bit barns in India

Microsoft's Azure cloud services have a new region: India. The House That Gates Built now has functioning bit barns in the central Indian city of Pune, Chennai and Mumbai. As of today, the three bit barns are open for Azure business. Later in October Office 365 will start to operate from India and in the first half of 2016 …
Simon Sharwood, 20 Oct 2015

Inside Mandiant's biggest forensics breach battle: Is this Anthem?

Cyber Defence Summit Four researchers from American cybersecurity firm Mandiant have engaged in an eight-month epic battle against hackers behind one of the biggest breaches of this year. The quartet is not saying who the victim is, nor identifying the attackers. However, it is at the level of, and very-well could be, health insurers Anthem or …
Darren Pauli, 15 Oct 2015
Diane Keaton and Woody Allen in Sleeper

UK drivers left idling as Tesla rolls out Autopilot in US

Updated Tesla has offered to make its customers more confident drivers by allowing them to hand over control of their vehicles to software. The manufacturer started pushing its Autopilot technology to its Model S motors with its Tesla Version 7.0 software yesterday - in the US anyway. Autopilot will take advantage of tech built into …
Joe Fay, 15 Oct 2015
Speed

Top telematics: Black box helps driver swerve speeding fine

Motoring campaigner Neil Herron has beaten a mobile police speed trap rap by using the threat of revealing his own GPS-based telematics data in court. The incident took place in January 2014, when Herron was stopped by a police patrol who were using a Tele-traffic LTI 20:20 Ultralyte 1000 infrared laser gun. (PDF datasheet) …
Simon Rockman, 07 Oct 2015

Techie finds 1.5 MEELLION US medical records exposed on Amazon's AWS

The private health records and contact information for as many as 1.5 million Americans have been found out in the open on Amazon's cloud services. It has been claimed that the names, addresses, and phone numbers, along with biological health information including existing illnesses and current medications, were posted in the …
Darren Pauli, 21 Sep 2015
Google car

Batteries on wheels are about to reshape our cities and lives

In the lobby of the hotel hosting a recent (and somewhat panicked) summit of the leaders of Australia’s automobile industry, someone had parked a vast, black Volvo SUV. Why give a car that’s not manufactured in Australia (and never will be) such star billing? On the first weekend in November, that car - Volvo’s XC90 - will be …
Mark Pesce, 10 Sep 2015
Unicorn. Detail from Domenico Zampieri fresco in Rome

Tech bubble? Pah. IPOs just return cash to early-stage investors

Worstall on Wednesday A internal presentation from Andreessen Horowitz aimed at its limited partners, that has to be taken with the appropriate shovelful of salt, has emerged – and the insights it reveals into the “tech bubble” are absolutely fascinating. U.S. Technology Funding -- What's Going On? from a16z Take it with a shovelful of salt …
Tim Worstall, 08 Jul 2015
Register Roundtable at the Soho hotel

CISOs' newest fear? Criminals with a big data strategy

CIO Manifesto We again gathered an eclectic mix of IT execs including some CISOs, CTOs etc, in a secret bunker to discuss whether we’re winning the security battle. OK, the “bunker” was a meeting room under the Soho Hotel, but not only are we not winning, it is not even clear what winning actually means. On Target Our IT execs happily …
Dominic Connor, 19 Jun 2015

Google-owned smart-gumble-maker Nest snubs Google's smart-gumble OS Brillo

Pics Smart-tech poster child Nest has revamped two of its three products and updated its app to better integrate all three. At a launch event on Wednesday in San Francisco, CEO Tony Fadell said his company's products would be "doing more together than they can independently." A slimmer, better Nest Protect smoke and carbon …
Kieren McCarthy, 17 Jun 2015

Insurer tells hospitals: You let hackers in, we're not bailing you out

When hackers swiped 32,500 patient records from Cottage Healthcare System, it was sued by its own customers for $4.1m – a bill that was settled by its insurers. Now the insurance company, Columbia Casualty Company, has claimed Cottage's computers were hopelessly insecure, and it wants its money back. Columbia claims the …
Shaun Nichols, 28 May 2015
Crop of doctor with pen and clipboard

WHOOPSIE! Vast US health insurer CareFirst plundered of 1.1 MEELLION records

More than 1.1 million user records have been compromised following a hack against US health insurer CareFirst BlueCross BlueShield. Data including members’ names, birth dates, email addresses and subscriber identification numbers may have been stolen by hackers as a result of a security breach last July. The hack was only …
John Leyden, 21 May 2015
Asigra RLM small

It's all got complicated: The costs of data recovery

Data protection companies have multiplied in the past 10 years and they are locked in a bitter battle for market share. Before Amazon arrived on the scene, the main options were owning all links in the data protection chain or renting or leasing appliances, with or without attached offsite services. Thanks to Amazon-style …
Trevor Pott, 06 Apr 2015

Big Blue to give car insurers IoT peeking powers

IBM has announced it will spend US$3 billion over four years on a new internet of things business unit. The company reckons the internet of things label now applies to all the the smart city stuff it did for water and traffic management applications in recent years. The idea seems to be to take that work, sprinkle on a little …
Simon Sharwood, 31 Mar 2015
Keep out sign with deleted expletive

US watchdog: Anthem snubbed our security audits before and after enormous hack attack

A year or so before American health insurer Anthem admitted it had been ruthlessly ransacked by hackers, a US federal watchdog had offered to audit the giant's computer security – but was rebuffed. And, after miscreants looted Anthem's servers and accessed up to 88.8 million private records, the watchdog again offered to audit …
Shaun Nichols, 05 Mar 2015
Disney's Beagle Boys

Glad you're not on the Anthem hacker hit list? Not so fast – millions more affected

US health insurer Anthem now says that the recent security breach that exposed the personal data of tens of millions of its customers also affected people who never did business with the firm. That's because Anthem's database included data not just for customers of Anthem-run Blue Cross Blue Shield healthcare plans, but also …
Neil McAllister, 24 Feb 2015
Sony Pictures

Sony hack was good news for INSURERS and INVESTORS

Whoever hacked Sony Entertainment at the end of November changed information security forever. Where once hackers had been most concerned to gain access to the honeypots of credit cards and bank accounts, this theft had a different goal, one that became clear with the steady release of Sony’s most intimate secrets throughout …
Mark Pesce, 15 Jan 2015

Burglars' delight no more: Immobilise UK secures property list

Security flaws that left millions of records on the Immobilise UK National Property Register website wide open to snooping have been identified and removed. Security consultant Paul Moore uncovered flaws that meant it was possible to access other members' records. The Immobilise site allows consumers to add details of valuables …
John Leyden, 07 Jan 2015

Healthcare: Look anywhere you like for answers, just not the US

Worstall @ the Weekend A few weeks back I pointed out that the US has the second largest social welfare system in the world. This produced a certain amount of pushback (journalistic speak for me whining to El Ed that you commentards are shouting at me) over the fact that a good part of that is the woeful healthcare system in said US. So, as the New …
Tim Worstall, 04 Jan 2015
App Magnets

Remember that Big Blue Apple? Biz apps for iPads are here

The fruits of Apple and IBM’s enterprise software alliance were today plucked and displayed for the world to see: a bunch of apps ported to iOS that target corporate buyers of iPad and iPhones in specific vertical industries. In the first tranche of Big Blue developed MobileFirst “made for business” apps and “supporting” …
Paul Kunert, 10 Dec 2014

Australian Government funds effort to secure wearable data pulses

Wearable health devices could feed Australians' health data into official databases to improve diagnosis under security research funded by the Federal Government. The researchers want to find ways to secure wearable consumer devices and validate the identity of users in order to enable health practitioners to trust data feeds …
Darren Pauli, 02 Dec 2014

Toshiba Australia recalls combustible laptop power cords

Toshiba Australia has issued a recall notice for the power cord it supplied with laptops sold in Australia between 1st September 2010 and 30th June 2012. The recall notice says the “'LS-15' labelled AC Power cord” was built with “electrical insulation [that] may degrade over time”. If that happens, there's “potential to …
Simon Sharwood, 25 Nov 2014
Files

UK.gov teams up with moneymen on HACK ATTACK INSURANCE

+Comment The UK government last week partnered with 12 insurance companies to develop the "cyber-insurance" market. But experts are split on whether encouraging the development of the nascent market will result in the adoption of improved security practices. Cabinet Office Minister Francis Maude said that while cyber insurance adds an …
John Leyden, 13 Nov 2014
Range Rover Evoque Si4

Israeli ex-spies want to help you defend your CAR from cybercrooks

Security shortcomings in new cars could nurture a new branch of the infosec industry in much the same way that Windows' security failings gave rise to the antivirus industry 20 or so years ago, auto-security pioneers hope. Former members of Unit 8200, the signals intelligence unit of the Israel Defense Forces, have banded …
John Leyden, 05 Nov 2014
Apple iPad Air 2

iPad Air 2: Vulture chews on new Apple tablet

Review This year’s update to Apple’s full-size iPad looks like a minor one. With headline changes like a Touch ID sensor, a faster processor, and a further reduction in thickness and weight, it is tempting to write off the mods as a little window dressing to raise the iPad’s profile in time for the winter sales fest. Apple iPad Air 2 …
Richard Brenner, 28 Oct 2014