Vendor-related risks, from both tech providers and non-tech partners, have always been a concern, but they’re now becoming increasingly apparent in a growing number of cyber insurance claims. While data breaches were once the main concern, we are now seeing more severe first-party losses caused by ransomware attacks and major system outages. These issues are not always the result of a cyberattack, either. Sometimes they come from non-malicious errors, like critical system failures or software
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Currently, European Central Bank (ECB) supervisors are focusing on critical issues, ranging from tariffs to cyberattacks and a possible dollar shortage, as they assess potential risks to the region's banking industry, five senior central bank officials said recently. The ECB is examining these risks amid a global trade war and conflicts, including the war in Ukraine and the Middle East.
Chief ECB supervisor Claudia Buch said last week that the central bank would test banks' resilience to geopol
