Daily Market Update - December 15, 2014

Sydney siege sparks fear of terrorist attack… FBI issues cyber attack warning to energy firms… Governments find some common ground on climate change…

Insurance News

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Sydney siege sparks fear of terrorist attack
Australia has been shaken by events in Sydney today as a man, apparently with a gun, took hostages in a city café. At the time of writing the siege is still ongoing but nobody is believed to have been hurt. Fears of a terrorist attack have been fuelled by The Black Standard flag being displayed at the café window; the flag has been used as a symbol by Islamic State. Police are said to be in contact with the man. Crucially this is not happening at a government or military establishment but at a local business and it’s a stark reminder that all individuals and businesses need to be vigilant. Security experts advise that risk assessments should be undertaken to maximise the safety of staff and customers and employees should be briefed in what to do if they spot suspicious activity.
 
FBI issues cyber attack warning to energy firms
Energy firms are among those that may be targeted by a sophisticated cyber attack from Iran according to the FBI. The risk was also flagged up by online security firm Cylance but the firm believes the warning from the FBI suggests a greater risk than first thought. The feds have warned infrastructure organizations including energy firms, defense contractors and education establishments. Although the attacks are being launched from IP addresses in Iran, the FBI is not suggesting a definite link with the country’s government which has denied any involvement.
 
Governments find some common ground on climate change
With a year to go before a UN Summit in Paris is hoped to agree detailed plans to tackle global warming and climate change, government officials from around the world have been meeting over the last two weeks to try to reach consensus. Over the weekend it was announced that 190 countries have reached a deal which paves the way for agreement; seen as crucial to mitigate the worst impact of climate change. The five page document includes agreement on cutting harmful emissions in a bid to stem the increase in global temperatures.

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