Daily Market Update

Android bug could allow hackers to access your mobile device
A serious bug has been found in Google’s Android operating system which runs on millions of smartphones and tablets. The issue is found in a component that opens web pages in apps and is found in Android 4.3 and below, which is used by 60 per cent of users. The latest versions 4.4 and 5.0 are not affected. Users are advised to update their devices to the latest version, although this is not always possible. Google has been criticized for saying it will not be issuing a patch for the problem.

Businesses face an increase in disruptive scenarios
The increasingly connected corporate environment means new challenges for businesses as well as a continuation of ‘traditional’ risks. The latest edition of the Allianz Risk Barometer highlights potential issues according to risk management professionals. Business interruption and supply chain risk is the top concern (46 per cent of respondents) followed by natural catastrophes (30 per cent), fire and explosion (27 per cent), cyber risk (17 per cent) and political unrest (11 per cent). Chris Fisher from the firm says that one risk can often lead to others and can often filter through supply chains to multiple businesses or even whole industries. With increasing cyber risks the survey’s respondents cited reputational risk as the most significant issue at 61 per cent with business interruption following at 49 per cent. Read the full report.

Are traffic signals going to be consigned to history?
New technology could eventually see the end of the traditional traffic signals seen at junctions worldwide. Scientists at Carnegie Mellon University have developed ‘smart windshields’ which display traffic signals directly in the driver’s vision. By communicating with city traffic management systems the technology would display red and green signals and can even take into account pedestrians and cyclists. Developers say that their research shows that the system could improve traffic flow by up to 60 per cent. While that may be true, every step that expects drivers to be as highly qualified as airline pilots may create some tough challenges for insurers.

 

by Insurance Business | Jan 15, 2015

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