Tristan Insures

There is no such thing as a GDPR expert, they simply don’t exist, the changes are too wide ranging and grey to be understood and then explained to a proficient standard. There are however people who are qualified to offer educated interpretation of what GDPR will mean for businesses in the UK and in fact the rest of the world. I am not one of those people, I understand tranches of GDPR effects, limitation and fines, however I would not be able to advise outside of an insurance capacity. What little I do know however is that when GDPR kicks in next year, there will be fines and penalties galore (Up to €20,000,000 or global turnover to be precise), starting with the bigger entities and trickling down. Gloucester City council was recently fined £100,000 for the loss of 30,000 emails. " Gloucester City Council fined £100k over mailbox hack A council has been fined £100,000 after 30,000 emails containing sensitive information were downloaded. The

High profile hacks have happened before, we've all read about Talk Talk, Ashley Madison and Sony. We all know the words on every business leaders lips are currently Cyber, Data protection and Ranson-ware. So why is the Tesco hack any different? Why should we take notice of this attack more than any of the above incidents? Quite simply becuase this is the  first time that a UK bank has reacted so publicly by stopping some types of transactions on a web banking system because of "online criminal activity". Banks are targeted all the time but typically those attacks just hit a few individuals, so do not bring about a site closure. In this case, as far as we can tell, a lot of people lost cash very quickly. You've probably read about the Natwest bank errors that lead to the public being unable to withdraw cash or pay direct debits, this is well known to insiders as an organised international hack attempt on the Natwest servers, easier to simply turn off the systems and

I often talk to business leaders who tell me that their company doesnt need Cyber Liability cover, that their IT systems are up to scratch and they can't find the financial loss when we pitch the need for Data breach cover.   I could type up my spiel, I could write reems upon reems on how vulnerable all businesses are, alas I'm simply going to list some very interesting facts: £35,000 - £65,000 is the average cost of a Cyber/Data Loss Most policies cover claims being made for data lost offline, including documents left on trains or in taxi's Databreaches have increased by over 150% in the last 4 years. There are over 7,000 DDoS attacks recorded daily The average time to recover from a DDoS attach is 12 hours at the cost of £12,000 Businesses can suffer a breach even if it is'nt a crime - 25% of breaches caused by personnel negligence. 70% of all companies tageted are small businesses Fines for a data breach of 4% annual turnover (not profit) or £17 mil

Did you know that 58,000 of 320,000 UK businesses are classed as Tech Businesses*? There are more than 1,500,000 "digital tech" jobs in the UK. The sector is said to be growing faster in terms of turnover and productivity than the wider economy. It's fascinating to see Birmingham sitting in 5th place behind the likes of Reading, Bristol and Bath, however I believe this is a bit of a misnomer as the scoring doesnt take into account Malven, Worcester and Leicester being satelites of Birmingham itself. If we include them in Birmingham's statistics it brings the number of tech jobs up to 43,000 just behind Manchester in 3rd. It's also interesting to see how Birmingham has achieved its position without the help of a large multinational in its midst, unlike Bristol, Bath, Reading etc who feature the likes of Amazon, Google and HP. Anyway, the full list, provided by the BBC is listed below: London Digital tech jobs: 328,000 Tech jobs per 10

So it happened, we left, we voted and now we’re out. Some of us were very angry, some very happy and a great many confused.   We’ve all heard about the possible impact on immigration, the economy and even the Lloyds Market, however what about the impact on some the other niche and emerging markets? In this series of blogs I will be looking into the impact of Brexit on some of the lesser discussed business sectors, this week Cyber Insurance. Cyber Insurance. When our children look back at 2016, they are unlikely to look back at the year with any fondness. The high profile deaths, political upheaval and worldwide humanitarian catastrophes have left the globe in state of unhealthy imbalance.   Brexit has stripped the shroud of democracy back and unveiled the bitter political divide of a developed but stagnant nation to the world. It’s also focussed the microscope on legislations from boiler warranties to European data legislation.   Focussing on the latter, the drea

Introductions Hello everyone,  Welcome to Tristan Insures, hopefully you're here because you were directed from Linkedin or Twitter, if however you were looking for something or someone else, please stay, we have a fountain of " insider " Insurance information to discuss! My name is Tristan, I work for an Independent Insurance Broker in central Birmingham. This blog is an opportunity for me to discuss all things Business and Birmingham. I'll be bringing breaking insurance news, insider information on the best and worst of the market, sprinkled with some useless Birmingham gossip. So keep your eyes peeled and ears open, if you get any scoops, send them my way and hopefully enjoy the read! - Tristan  Tristan is the Client Relationship Manager for James Hallam Brokers ltd Birmingham