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Is there consolidation in the insurance industry as Travelers completes the acquisition of Corvus a cyber insurance managing general underwriter.
One finds the cyber insurance industry very interesting, it feels like an industry full of contradictions. It’s a hard market, its a soft market; insurers loss ratios are up, then they are down; there’s liquidity in the reinsurance market, then there’s not; there’s exclusion clauses for nation state threats; there’s capacity in the market then there’s a need to consolidate to provide stronger underwriting capacity. There are solutions to support clients manage the risk, yet attack frequency, complexity and severity of impact are rising; and Governments are warning of the potential for CNI attacks. Aptly demonstrated by the news from Reuters of the effects of the cyber attack on Kyivstar.
Cyber insurance is without doubt part of corporate risk transfer, but is it enough to support companies manage cyber risk. What is the industry doing to support clients mitigate the risk of cyber regulation? How will the industry adapt to increased cyber regulation of both its clients and insurers?
Ted Dziekanowski Brian D. McCarthy
#cyberinsurance #cyberriskmanagement #cyberinsurance
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