Cyber threats, climate-related catastrophes, and disruptive technologies remain top risks reshaping the U.S. insurance industry. The question is how chief risk officers at the nation’s largest insurers are confronting them.
Cybersecurity
Posted inRegulatory Enforcement
Ransomware gang BlackSuit hit with major takedown after targeting 450 U.S. victims
The BlackSuit ransomware organization has taken a major hit under a U.S.-led, global law enforcement operation that seized the criminal group’s servers and assets, the Department of Justice said Monday.
Posted inRisk Management
TPRM programs can prove their worth by limiting damage of cyberattacks, data breaches
There are stories we tell ourselves in third-party risk management (TPRM) to make ourselves feel better about the corners we cut.
Posted inAccounting & Auditing
Communication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
Posted inAnti-Bribery
ESG isn’t just a buzzword, it’s vendor management, forced labor and more
ESG is no longer in vogue. But its issues still are.
Almost none of the nearly 200 attendees at Compliance Week’s Third Party Management summit this week said they’re currently working on ESG when informally surveyed. The show-of-hands results marked a dramatic reversal from even just a couple years ago, surprising even attendees in the room.
Posted inBoards & Shareholders
TPRM Keynote speaker Cherepanova says directors don’t need specialization, they need critical thinking
Regulators and investors increasingly say boards of directors need more expertise to ensure they can respond to fast-changing politics, policy, and technology that threaten to undermine their businesses. In the U.K., government officials say boards need to think more about cyber. In the EU, they need to prepare for the Corporate Sustainability Reporting Directive (CSRD). Speaking at Compliance Week’s Third-Party Risk Management summit, Boards of the Future director Vera Cherepanova says that directors need to think broadly, rather than in specialties.
Posted inRisk Management
TPRM has become the business continuity plan
Global supply chains are constantly in flux: crucial vendors could suddenly go bankrupt, fail to produce key components without warning, or even lose your firm’s data in a breach. The result has drawn ever more attention to third-party risk management as a critical element of many businesses.
Posted inEthics & Culture
Inside the Mind of the CCO: Compliance in an uncertain world, still with fuzzy reporting lines
The world is rapidly changing. The European Union is stepping up rules and enforcement, while the United Kingdom is charting its own course. And now the United States is taking a third tack, with unclear regulation enforcement under a mercurial Donald Trump’s second term as president underway.
Posted inData Privacy
FTC orders GoDaddy to upgrade cybersecurity defenses following three breaches
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
Posted inEthics & Culture
CW National Notebook: Mental health is a rampant issue for cyber pros, and it needs more attention
Cybersecurity has become one of the most important parts of business operations, particularly as companies face a data breach, attack, or disruption of service. But the impact this responsibility is having on cyber pros needs more attention.
