Is state intervention needed for cyber insurance?’, more importantly can the state afford to cover the potential liabilities? The recent Lloyds of London report highlighted the outcome of a possible system cyber attack. Landing on a $3.5trn figure for global…
Closing out Cyber month a great report from AXA that reviews the top risks for 2023. With cyber in the number 2 slot behind climate change and keeping within the number 3 position consistently for the past 5 years. The…
The Dear CEO letter from Financial Conduct Authority in September 2023 to cyber insurers focusing on policy wordings, highlights the challenges insurers having in delivering cyber insurance policies and their own knowledge of cyber risk in the board room. How…
Regulated entities that cannot demonstrate cybersecurity risks management will find insurance harder to justify or claim. Regulation shifts risk Left of Bang on to the financial statements of covered entities. EU NIS 2, DORA and the SEC final rule require…
One wonders if Zurich has considered doing the same for cyber insurance and cyber risk management. The CEO rightly (in ones opinion) stated that cyber is currently an uninsurable(economically) risk in 2022. One has seen no solutions put forward by…
Cybersecurity of small business is the 99% problem that no one seems to have found an answer to. The article says that cyber insurance is ‘not a comprehensive solution to all cybersecurity challenges’. Cyber insurance is not a solution to…
Lloyds is facing some challenges, on one side it’s dealing with the full extent of climate change, with $100bn of losses from natural catastrophes yet to make their way thorough the system to insurers. On the other it recently announced…
This report should be read. The Lloyds of London report on the effect of cyber got allot of attention. What is important is not the figures, but that Lloyds of London has published a report on the effects of a…
Brian D. McCarthy we are starting to see some reality being bought to the conversation about the threat cyber could pose to nations, the flow of capital and security. The report demonstrates the challenges that governments face with managing cybersecurity…
Ted Dziekanowski as with ESG you have to wonder the effect on credit risk as cyber risk becomes a focus of regulators. If insurers reduce or remove D&O coverage, cyber insurers reduce coverage and cyber regulation shifts risk Left of…
