About the author: Charles Tomlinson | SmartBlogs

Charles Tomlinson Charles Tomlinson edits SmartBrief newsletters on insurance, finance and legal matters. He served previously as a newspaper editor in South Carolina.

Financial institutions need to focus on resilience and sharing information about cybersecurity, which should be treated seriously as a matter of national defense in the US, said experts and regulators at the Securities Industry and Financial Markets Association’s Annual Meeting in Washington, D.C., on Tuesday.

“We need national defense priority on cybersecurity,” just as with nuclear defense, because no company has the budget to battle sovereign nations launching cyberattacks, said Ronald Kruszewski, chairman and CEO of Stifel Financial.[…] Continue Reading »

Certified public accounting firms should ask several questions and consider many crucial factors when selecting a professional liability insurance carrier, says Alvin Fennell, vice president at Aon Insurance Services. He explores the steps that firms can take to help find the proper level of coverage.

What key factors should an accounting firm consider to be certain that the level of coverage and the premium are appropriate for that particular business?[…] Continue Reading »

Certified public accountants face a range of risks that can lead to professional liability claims. Aon Affinity Executive Vice President Ken Mackunis and Senior Vice President Dave Sukert discuss how firms can mitigate their potential for liability. (Aon Affinity is the administrator of personal and business insurance benefits for members of the American Institute of Certified Public Accountants.)

Have technology and cybersecurity-related issues raised the risk of professional liability claims?[…] Continue Reading »

The financial-services sector needs to strengthen its information-sharing network to learn more quickly of threat data and thereby stay ahead of hackers, said panelists at the recent SmartBrief Cybersecurity Forum in New York City.

Cybercriminals are colluding and collaborating frequently, which creates a crucial need for the industry to work more closely together on a regular basis, said George Rettas, managing director and chief of staff, Global Information Security Department — Information Protection Directorate, Citigroup.[…] Continue Reading »

Collaboration between the financial services industry and government entities has increased in response to rapidly evolving cybersecurity threats, but both sides agree there is room for improvement. Experts at the SmartBrief Cybersecurity Forum in New York City on Tuesday identified increased information sharing and the enactment of legislation already making the rounds on Capitol Hill as two ways to enhance the security of today’s financial markets.[…] Continue Reading »