Online security a growing concern for insurance industry.

• Position: CYBERSECURITY

A recent study by Ernst & Young clearly showed hat the global insurance industry takes cybersecurity very seriously. In fact, Ernst & Young expects it to be one of the top three issues facing the industry by 2015. It is currently ranked sixth.

Contributing factors cited by the report include the increasing availability of sophisticated hacking tools on the Internet; the growing pool of people capable of seriously breaching corporate security; the difficulty of developing a coordinated approach to Internet management, which offers an element of protection to criminals who route their attacks through multiple countries; the rising threat of state-sponsored cyber attacks; and the ease of staging distributed denial-of-service...