Insurance and Reinsurance - Weekly Industry News

UK companies at risk of potential cyber attack: survey, Posted on CIOL

United Kingdom ranks high for ‘Compulsive Clickers’ that put companies at risk of potential cyber attack, according to new survey. BRACKNELL, UK: New research commissioned by Sourcefire, cyber security solution provider and now part of Cisco, has revealed that 90 per cent of UK workers surveyed have clicked on a web link embedded in an email with two-thirds (66 per cent) admitting they very rarely first check to ensure the link is genuine. Not only does this expose the individual to a high risk of an IT security breach, it potentially leaves companies open to a hack attack as cybercriminal gangs target individuals to gain access to corporate networks and sensitive data. [Read More…]

Cyber terrorists ‘could shut down North Sea rigs’, By Frank Urquhart, Posted on the Scotsman

COST-cutting measures by oil and gas companies have left North Sea installations vulnerable to attack by cyber terrorists, it has been warned. The decision to merge production systems and IT networks has left them vulnerable to a cyber attack that could threaten to shut down production, the business advisory giant KPMG said. The UK government has already estimated that oil and gas firms lose almost £400 million each year through cyber crime and theft of their intellectual property. George Scott, head of information protection and business resilience for KPMG in Scotland, said that because of the “highly competitive market”, oil firms were under increasing pressure to reduce costs by [Read More…]

Biogen wins protection for MS drug Tecfidera in Europe, Posted on Reuters

(Reuters) – Biogen Idec has won regulatory protection for its top-selling multiple sclerosis drug Tecfidera in Europe, paving the way for its launch in markets that could account for a large proportion of future sales.The European Medicines Agency said on Friday it had granted the oral medicine a “new active substance” (NAS) designation, securing Biogen 10 years protection through data exclusivity that will stop generic firms from launching copycat versions. In March, Tecfidera was approved in the United States and also recommended for approval in Europe – but its EU launch has been delayed, pending a resolution of uncertainty over data protection. [Read More…]