Interesting video from the Lloyds Chief of Markets on the coverage gap (4 mins 20 seconds) that amongst other insurance classes covers cyber.

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Interesting video from the Lloyds Chief of Markets on the coverage gap (4 mins 20 seconds) that amongst other insurance classes covers cyber. One strongly believes that closing the protection gaps for both the insured and insurer is critical to the success of cybersecurity risk management.

Insurers are finding it difficult to demonstrated a full understanding of the risk. One is waiting to see what products they will offer to fix the 99% problem that is SME cybersecurity, where the coverage gap is greatest, and if the industry is going to support the insured manage risk, other than Right of Bang.

Cyber regulation is forcing covered entities address cyber Left of Bang and close their coverage gap, through risk reduction. One wonders the effect of regulation on D&O insurance, as U.S and EU regulators mandate cyber compliance.

Ted Dziekanowski

#cybersecurity #cyberriskmanagement #cyberregulation #insurance

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