An important post Brian D. McCarthy, as Old Republic International develops Cyber and Technology Errors and Omissions insurance products. As cyber regulation develops board and corporate responsivities and legal risks increase.D&O and E&O insurance will develop as cyber insurers conclude…
The unfortunate truth is that National security and cyber regulation may not be juxtaposed in the new administration. On one hand the U.S is facing one of its biggest threats to National Security through cyberespionage, IP theft and the threat…
We have seen several cyberinsurance market reports over the past month highlighting the challenges and opportunities ahead for insurers. This latest from Tokio Marine HCC (TMHCC) pulls some of those threads together.TMHCC highlights a softening cyber insurance market and premium…
Will insurers move to targeted insurance products, rather than broad coverage products?Brian D. McCarthy @Thaddeus Dziekanowski Faisal KhanVeritas GRC#cybersecurityriskmanagement #cybersecurity #cyberinsurance View Original Post
One wonders how the model addresses cyber risk quantification for DORA regulated insurers and reinsurers in the EU? Given cybers non-normal relationship to operational risk and its growing effect on the other risk Categories under Solvency II. As one reads…
Here is one problem the cyberinsurance faces.Standard & Poor’s Financial Services LLC research firm identifies overconfidence in a companies ability to defend against a ransomware attack is not matched by the ability of tools to identify and remediate cyber risks.Here’s…
One of the top three risks highlighted by Munich re facing carriers, brokers those that make insurance decisions in 2024 is cyber. It sits up there with economic stability and climate risks. With an increase in cyber attacks of 247%…
One will keep pointing to the fact there are no alternatives to cybersecurity risk management than to ‘Shift Left of Bang’. Cyber is a systemic national security risk, with an attack surface that is as big as the digitial footprint…
I learnt a few things working in insurance. One being that insurance is the least exciting and the most exciting product. The least exciting, as its often seen as a necessity purchase. The most exciting as the claims process takes…
If cyber insurers believe that cyber insurance will be vital in securing organisations, one suggest that there needs to be a rethink. It’s as vital as health insurance in ensuring that I am healthy. However health insurance doesn’t help me…
