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Vendors Remain the Systemic Nightmare Scenario Cyber insurance still faces its biggest unknown: a major third-party outage hitting thousands of customers at once. On the latest Cyber Insurance News & Information podcast, host and executive editor Martin Hinton talks with Peter Foster, Chairman of Willis’ Global FINEX Cyber Solutions, about that risk. Foster describes a … Read more
Resisting The New-New-Shiny Thing Is Hard! UpGuard’s new “State of Shadow AI” report lands with a jolt. The study shows widespread use of unapproved Artificial Intelligence at work. “8 out of 10 employees” use unauthorized tools, according to the companion press release. Security leaders participate, too. “68% of security leaders… admit to incorporating unauthorized AI,” … Read more
In the latest episode of the Cyber Insurance News & Information Podcast, host Martin Hinton sits down with AI Risk expert Erin Kenneally, founder of Elchemy, to explore one of the most pressing questions in technology and insurance today: What happens when AI fails and who pays for it? The conversation dives deep into AI … Read more
The Biggest Threat: Concentrated Vendor Risk Peter Foster does not hesitate. “The third-party risk is the systemic risk that most underwriters worry about,” he says. “If you compromise 100 to 1,000 companies at a single point of failure, that’s the future risk that’s also here and now.” Foster, Chairman of Willis’ Global FINEX Cyber Solutions, … Read more
AI Risk Insurance: Can Cyber and Tech E&O Policies Keep Up with Autonomous Agents? If you were a Replit customer and its AI agents mistakenly wiped your entire production database containing 1K+ companies and execs data, would you expect your cyber policy to cover the resulting lost revenue (BI & CBI) and costs to restore … Read more