Evolution, Growth and Challenges of Cyber Threats in South America
Learn what the main causes of cyber incidences are, which industries are most vulnerable and the best approach to managing cyber risks on page 12

The Insurance Fraud Hall of Shame (podcast 28:59) – Find out what the crooks do!
Insurance fraud costs upwards of $80 billion a year and it’s coming out of your pocket. James Quiggle director of communications at the Coalition Against Insurance Fraud (CAIF) is interviewed HERE (secure).

Peru Has Become the Most Stable Country for Investment in Latin America
According to the latest data provided by the US-based financial services JP Morgan Chase, Peru ranks first in Latin America, among other countries such as Colombia, Mexico and Chile. It not only affects positively the risk perception, but also about shows the opportunities in the internal market. Read more on page 13

Policyholders Face Substantial Challenges in Obtaining Coverage for Cyber Claims Under First-Party Property Policies
Notwithstanding the wide array of cyber specific insurance products available in the market, policyholders have and will continue to look for coverage for cyber, data breach, and privacy claims under commercial general liability and first-party property policies when confronted with a claim or suit. Policyholders face numerous hurdles in obtaining coverage under these policies, which often do not apply at all or provide only limited coverage for such claims. A must read on page 14

The Biggest Security Vulnerability – People
This article describes the biggest vulnerability to any organization – social engineering. It’s the art of manipulating individuals into trust, convincing them to provide confidential information. Read how easy it can be to fool people and the future implications of social engineering on page 14

Credit and Political Risk: The Effect of Climate Change
With scientists predicting more severe natural disaster events, the potential impacts are becoming a growing fact for underwriters as they assess credit and political risk in emerging markets. When a natural catastrophe hits the developed world, it will not necessarily have a material impact on a country’s wider economy, political stability or credit rating. But in less-resilient regions, the economic and political effects of natural disasters can be far reaching. Learn more on page 16

Q&A with Marine market specialist Peter Townsend
Marine insurance specialist Peter Townsend recently joined Miller Insurance in London to support the growth of its’ Marine business in North America. Peter has built up invaluable technical expertise and knowledge and here he talks about his role, how client needs are always evolving, and shares a few of his thoughts on recent market trends. Read what this veteran mariner thinks about the market today on page 16

Considerations of the Risk Manager on a D&O Programme – Insurance Premium Tax
For risk managers the line of insurance that guarantees the most attention and focus of the board is undoubtedly directors’ and officers’ liability (D&O). In the current hardening market, terms and conditions are paramount, but when looking at the various ways in which a global insurance programme can be structured, it’s important that the risk manager is fully aware of the consequences of how the programme is written, especially potential responsibilities for compliance and additional costs to the corporate policyholder. Insurance Premium Tax (IPT) is a consequence of any insurance programme, not a driver, but…read more on page 17

Brexit: let’s get shirty*!
The UK formally left the European Union on the 31st January and pretty-well straight away the tone of communications coming out of this country has descended into threats and insults. There are eight main bones of contention at the moment; more will arise as time goes by. Each of these issues has been given a Combustibility Rating meaning whether or not the UK government would be prepared to back down. You must read George Worsley’s take on the situation post-Brexit on page 18