Law360, London (July 1, 2021, 1:32 PM BST) — Global cyber-reinsurance prices have been pushed up by as much as 40% in the last year amid fears of a major “systemic” attack, Willis Towers Watson said on Thursday, as insurers seek to offload risk.
The London-based broker said the price hikes, which came in the July reinsurance renewal season and were as high as 40%, were the result of increased demand for cover and the unwillingness of reinsurers to take on additional business — a cyclical phenomenon in insurance known as a hard market.
Willis Towers said in a report on the reinsurance renewal period leading up to July 1 that…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!
More Russian spies operate in the UK today than at any time during the Cold War, sources say.
Spooks believe up to 300 Kremlin agents are trying to steal state secrets – some with British nationality.
They say that is even more than during the Cold War, which started in the 1940s under brutal Soviet dictator Joseph Stalin.
Some espionage operations are run by personnel in the Russian embassy, but many more are done by civilians with no direct link to the Kremlin.
One intelligence source said: “Russia views the UK as a soft touch.
“Russian intelligence officers have conducted assassinations on UK soil, used nerve agents to poison people and endangered the lives of thousands.
Vladimir Putin continues to test the limits of the West (Image: Getty)
“The Kremlin is also orchestrating daily cyber warfare attacks.”
Last October, MI5 head Ken McCallum said the spy threats posed by China and Russia to the UK are “growing in severity and complexity”.
And last week relations between the UK and Russia hit a new low when destroyer HMS Defender was almost dragged into a fight with Russians warships and jets in the Black Sea.
Russia said that one of its ships had fired warning shots while warplanes dropped bombs nearby.
British Royal Navy destroyer HMS Defender arrives in the Black Sea port of Batumi on June 26 (Image: Getty)
The Ministry of Defence denied this and said the UK ship was in international waters.
But Russian president Vladimir Putin has threatened to bomb our ships if there is another confrontation.
Former Navy chief Lord West said Russia’s actions would have led to war in the days before nuclear weapons.
He added: “Putin has been incredibly reckless and stupid. The next time, there could be a mistake and someone could get killed and the situation becomes far more serious.”
Colonel Richard Kemp, a former Army chief, warned that Putin would not hesitate to attack our ships in future if they entered waters they considered their own.
He said: “Authoritarian regimes are not subject to the same limitations and constraints as we are and it would be a mistake to assess their potential response…
https://spinsafe.com/wp-content/uploads/2021/06/0_RussiaS.jpg6301200SecureTechhttps://spinsafe.com/wp-content/uploads/2024/01/SS-Logo.svgSecureTech2021-06-26 15:00:042021-06-26 15:00:04New Cold War fears as ‘soft touch’ UK has more Russian spies now than under Stalin
Realty firm Ansal Housing on Friday said that the company had faced multiple ransomware attacks on its IT system since February 26, which may have resulted in some data loss.
The e-mail system had been significantly impacted resulting in non-receipt of any e-mail communication on the e-mail accounts, it said in a regulatory filing.
The first series of the virus attacks had disrupted the e-mail system during the period between February 26 and March 6; and from March 7, the e-mail services could be restored.
On March 26, the server faced the second series of attacks resulting in the disruption of the e-mail system. The same could be restored by April 4.
https://spinsafe.com/wp-content/uploads/2021/04/og-image.jpg300300SecureTechhttps://spinsafe.com/wp-content/uploads/2024/01/SS-Logo.svgSecureTech2021-04-09 22:30:042021-04-09 22:30:04Ransomware attacks: Ansal fears data loss
NEW DELHI :
India is likely to block its mobile carriers from using telecom equipment made by China’s Huawei, two government officials said, under procurement rules due to come into force in June.
New Delhi is wary about awarding new technology business to Chinese firms both because of security fears and a desire to get Indian manufacturers to produce more telecoms equipment.
A US campaign to curb Huawei has triggered bans or limits on the use of its equipment around the world but the situation in India has been amplified by strained relations between New Delhi and Beijing over their shared border.
India’s telecoms department said on Wednesday that after June 15 carriers can only buy certain types of equipment from government-approved “trusted sources” and said New Delhi could also create a “no procurement” blacklist. Huawei is likely to feature on this embargoed list, the two officials, who declined to be named, told Reuters.
“We cannot prioritise economic gains if an investment poses national security risk,” one of the officials said.
The telecoms department, which did not comment on Thursday about Huawei, is yet to provide further details on the plans for trusted sources or a procurement blacklist.
However, a third official, who also declined to be named, told Reuters that ZTE Corp, another Chinese firm which has a smaller presence in India, could also be excluded.
Huawei and ZTE are under scrutiny for allegedly installing “backdoor” vulnerabilities to spy for the Chinese government.
Both have denied the allegations and Huawei has previously told Reuters it is ready to enter into a “no backdoor” deal with India to allay security concerns. (https://reut.rs/3bCS9V8)
Huawei and ZTE did not immediately respond to requests for comment.
Two of India’s three big telecoms carriers, Bharti Airtel and Vodafone Idea, use Huawei gear. Any restriction on Huawei gear is likely to push up costs, industry analysts say.
The Chinese firm’s equipment and network maintenance contracts are typically cheaper than European competitors such as Ericsson and Nokia and…
