Insurance Age

Survey by the International Underwriting Association

A survey by the International Underwriting Association has revealed that the number of computer systems failures experienced by London Market insurers has reduced in the last year. The results, from a survey of 36 insurance companies, showed that 53% of firms have faced unexpected outage of critical business systems over the past 12 months, compared to 73% in 2005. In addition, companies believing their information security spending to be completely or closely aligned with business objective