Cyber insurance underused

Businesses are finding it difficult to protect themselves against the increasingly diverse range of tactics deployed by cyber criminals and cyber insurance is underused. Recently, organisations have experienced a rise in destructive malware attacks, for instance, which are designed Read more

Humans and AI together

In 2021, artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally, according to Gartner, the research analyst.

Gartner says augmented intelligence, which it defines as ”a human-centred partnership model Read more

Beware of ‘silent’ cyber risk

The UK’s insurance regulator has warned insurance companies that they need to do more to reduce and manage their exposure to ‘silent’ – or non-affirmative cyber risk.

Non-affirmative cyber risk occurs when insurance policies are ‘silent’ on the matter, Read more

Making informed insurance decisions

In April this year, the IRM’s Internal Model Industry Forum (IMIF) released a report which outlined how insurance companies can factor operational risk into their insurance purchasing decisions – and many of its points are relevant to risk managers Read more

Taking model validation one step further 

While model validation as part of the Solvency II IMAP is now considered “business as usual” by insurers, there is more uncertainty around using model risk management (MRM), according to the latest guidance from the IRM’s Internal Model Industry Read more

Gaining value from internal risk models?

Gaining value from internal risk models? IRM’s Internal Model Industry Forum (IMIF) is  publishing its seventh piece of guidance aimed at advising the insurance market how to do so. The document is called Profit and loss allocation – the Read more