Daily Market Update

Security expert warns of cyber risk to aircraft… US move to bolster cyber security defenses… Keeping workers safe on foreign assignments… And the lighter side of marketing insurance…

Hacker reveals threat to aircraft
A keynote speaker at the Black Hat summit on hacking will tell delegates that he’s figured out a way to take remote control of an aircraft. In a stark warning of the dangers of cyber threat, Ruben Santamarta will explain how it would be possible to access a plane’s onboard computer while it’s in flight and disrupt navigation and communication systems. Although largely theoretical, the talk to hundreds of security experts gathered this week in Las Vegas will raise concerns about the security of aircraft systems. The risk is said to be minimal but potentially enough to prompt a major overhaul of the industry’s security.

US strengthens cyber crime defenses
A central point of communication between federal and civilian organizations will be officially created by the passing of the National Cybersecurity and Critical Infrastructure Protection Act of 2014. It will be the task of the National Cybersecurity and Communications Integration Center (NCCIC) to share vital information about cyber threats with government agencies, analysis centers, private entities and other stakeholders to ensure a unified approach to attacks. Among the legislation would be a requirement for federal agencies and others to notify NCCIC of any breach. This is the latest move to bolster defences in the face of increased cyber risk for which a strong unified approach is needed.

Keeping workers safe on foreign assignments
As more businesses expand their markets globally there is often increased need for workers to travel abroad and the emerging economies are increasingly popular destinations. It is of course vital that workers are protected when overseas, not just with adequate insurance cover but also with information. Knowledge of local customs and laws is vital to overseas workers. Jerry Brodsky of law firm Peckar & Abramson suggests seeking local counsel to advise workers on laws and regulations ideally on an ongoing basis while they are in the country, especially on longer assignments. While Mr Brodsky is specifically commenting on contractors working in Latin America, the potential risks are the same in many sectors and regions. Businesses should ensure that they have taken all reasonable steps to ensure safety of overseas workers including ensuring that they are well informed about local risks.

The lighter side of insurance marketing
A series of adverts for an Australian insurance company focuses on ‘easier ways to save’ by choosing them for your insurance policy rather than sharing a bath with your parents! Watch the video.
 

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