So now some cyber risks are uninsurable? There is and there never has been a ‘quick fix’ for cyber. Unfortunately we are having to face facts that cyber is a risk that requires more than just cyber insurance as the…
The cyber and D&O insurance industry faces an interesting challenge Gerry Kennedy as 99% of organisations fall within the category of SMB/ SME if the statistics are correct. Yet the insurance industry is struggling to accurately assess SMB risk aggregation…
The problems for Crowdstrike are not over. The effect of the incident won’t be felt on their balance sheet for another 3 – 4 quarters. Until contract renewals take place; regulators state their position; insurers conclude their processes; Crowdstrike executives…
Gerry Kennedy, the problem for insurers and the insured is cyber risk management is a responsibility of both parties. As has been repeatedly raised market forces have failed to demonstrate the management of cyber risk. To the extent that it…
Is there trouble ahead for cyber insurers? As cyber attacks increase, aggregated losses increase and events such as Crowdstrike demonstrate the global effects of ICT risks. Gerry Kennedy could payouts outpace profitability, could loss ratios start to creep up, is…
Cyber insurance is important to an organisations cyber risk transfer program, but its not key. In fact one would say that with the wave of cyber regulation, cyber incidents and ICT risk that we have seen in the past 18…
Insurance is a critical risk transfer tool, long relied upon by companies to transfer cyber risk away form the balance sheet. Unfortunately cyber has become a significant risk to both insurers and insured. Insurers are tightening policy wording, introducing exclusion…
It’s becoming a game of Russian Roulette for insurers and the insured. On one side you have the increase in cyber attacks, on the other ICT risks that can include those associated with third party suppliers, including cyber Tech. One…
One is not sure how this will end well Gerry Kennedy. The recent Crowdstrike incident raises many questions about the role that insurance effectively plays in supporting client manage risk. With the national Cyber Director Harry Coker confirming the need…
The Crowdstrike incident highlights the challenges insurers and the insured face with ICT risk transfer and non malicious incidents. The global footprint of vendors such as Crowdstrike; the depth of systems access; reliance on security vendors by customers and the…
