Global insurance already facing £39billion climate change losses in 2023
Climate change is being blamed for the severe thunderstorms, earthquakes, extensive flooding and heatwaves that have led to the global insurance industry already suffering £39billion ($50bn) in losses in 2023. Heading into 2023, Deloitte, warned climate change risk was a pressing issue for insurance regulation with insurers’ and reinsurers’ rates exacerbated by inflation and the […]
National Cyber Security Centre report highlights continuing threats to the UK
The National Cyber Security Centre (NCSC) sixth annual report from their Active Cyber Defence (ACD) programme has revealed a continuing threat to the United Kingdom with a record-breaking 7.1m suspicious emails and websites reported to authorities in 2022 – equivalent to one every five seconds. The ACD programme has been a key aspect of improving […]
Online Safety Bill has significant implications
The draft Online Safety Bill (OSB), which aims to tackle illegal and harmful online content, is expected to receive Royal Assent in the summer with Ofcom to publish codes of practice which have significant implications for company boards of directors. The OSB will introduce rules for sites and apps such as social media, search engines and […]
Ruling highlights negligence claims against construction professionals
The Court of Appeal has delivered a ruling that clarifies if developers are owed duties under the Defective Premises Act 1972 (DPA). The case URS Corporation Ltd v BDW Trading Ltd focused on the duties owed by professionals but also highlighted the fact that both contractors and sub-contractors also owe a similar duty. The developer […]
Climate change and its impact on insurance risk management
Company boards need to raise their awareness about the risk to balance sheets stemming from climate change, particularly since some aspects of these risks are not covered by conventional insurance. Of longer term worry is the impact the biodiversity loss and the collapse of ecosystems will have on the globe. Climate change is increasingly impacting […]
US claims China developing ability to “seize control” enemy satellites
A leaked US intelligence report claims China is building sophisticated cyber weapons to “seize control” of enemy satellites and knock out their ability to relay signals and send orders to sophisticated weapons systems in a conflict. The report states the Chinese action is designed to enable them to make satellites they target useless for data […]
Capita Cyber-attack Shows Vulnerability Of Outsourced Public Service
A cyber-attack which interrupted computer systems and knocked out council telephone lines has been confirmed by outsourcing group Capita which said its Office 365 apps had been targeted. Information posted on the dark web included bank account details of suppliers for Capita’s nuclear consulting division. The three day attack highlighted the vulnerability of critical public […]