The popularity of this platform and its wide adoption by businesses makes it a natural target for cybercriminals. Unfortunately, some organisations are unaware of the vulnerabilities that out-of-the-box security defaults could present.

On Thursday, September 15th, 2022, Uber confirmed reports of a cybersecurity breach. Following an internal review, Uber reported that cybercriminals gained access via an account allocated to an external contractor.

The increased use of digital technologies to enhance or even create entirely new business models, customer experiences and working processes has led to a transformation in the way companies operate. While this change has been occurring over many years, there was an unrivalled acceleration during the pandemic.

For businesses in the financial services sector, taking out a tailored cyber insurance policy can make all the difference if something suddenly goes wrong. Financial institutions like asset managers, hedge funds, etc., face a wide variety of risks in their day-to-day operations, thus, an insurance solution that provides comprehensive protection is a necessity.