The cyber insurance market is without any doubt growing, growing fast and will continue to write premiums as cyber risk grows. Creating challenges for the cyber insurance and reinsurance markets, in raising capital to cover claims. But is the ILS…
Thank you Dean Armstrong KC. The frequency, severity and complexity of cyber attacks in increasing. As reported by the insurer Howden ransomware incidents are up 50% in 2023. The UK should be most concerned about the responses other nations such…
The ransomware threat vector was only ever going to increase in popularity, as it moved from a specialist threat to a commoditized service. When a child can run a ransomware attack through RaaS; companies ignore cyber risk; and there are…
Thank you for posting Judy Selby. Here’s an observation. If we assume 99% of organizations are SMEs, typically the organizations that don’t or cannot afford cyber insurance. Then one could argue that the market for cyber insurance is greater than…
Thank you for posting Corey Munson. The challenge for the insured is invariably they do not know what they are paying for; the exposure that a cyber attack creates for their organisation, and whether or not they will be able…
Ted Dziekanowski, cyber insurance sits ‘right of bang’ as a risk transfer tool, supporting organisations manage cyber post incident. It is interesting to see that some from the cyber insurance industry are making it clear that â¬ÅNeither insurance nor reinsurance…
Good news or bad for companies and cyber insurers as the U.S DoJ places focus on prosecuting Nation State cyber attacks. Lloyds excludes nation state backed cyber attacks. With the DoJ focusing on state sponsored attacks will there be clarity…
As high as 25%, reputation is not likely insurers biggest problem. With EU DORA coming down the road and arriving by the end of 2024. If it is finalized in 2023, U.S listed public insurers will have to comply with…
One would argue there are more than a few caveats ahead for the cyber insurance industry. While the demand for cyber insurance grow, the insurance and reinsurance industry continues to face problems in finding the capital to support claims and…
Thank you Shaun van Niekerk, CISSP. It is a bold move by AWS to enter the cyber insurance market, in a clear drive to entice customers onto the cloud platforms. There are advantages and disadvantage with cloud, cloud if done…
