If insurance firms refuse coverage here, what happens if the security of cars is compromised through cyber and insurers will not underwrite vehicles

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If insurance firms refuse coverage here, what happens if the security of cars is compromised through cyber and insurers will not underwrite vehicles because of the potential liabilities that cyber attacks bring.

What would the credit risk exposure for auto lenders be if say 10% of the vehicles they loan against get bricked, reducing current fair market value, forcing defaults? Quite simply cyber risks against the auto loan market affect insurance, loans and has a knock on affect on regulatory capital under Basel IV and Solvency II.

Will U.S states get upset if insurers refuse auto insurance in their states?

Ted Dziekanowski Gerry Kennedy

#cybersecurity #cyberriskmanagement #cyberattack #cyberinsurance #autoinsurance

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