Call us now:
It’s going to take time for the Crowdstrike incident to unravel. It was clearly an ICT risk, adding to the complexities insurers and their clients face.
We do not live in a world that underwriters understand and can manage. We haven’t for some time. In hind sight would any insurer have offered a product to Crowdstrike to underwrite the ICT risks that materialised last week? Would they offer it across global markets?
You dont need to be a statisticain to realise that these types of risks, and cyber risk are not 1:100 year long tail risks. This year alone demonstrates a trend of signoficant digital events.
The insurance industry needs to rethink its approach to digital risk. As we presented to Lloyds of London 2 years ago. The risk transfer equation has changed significantly, it’s now Left of Bang, not Right.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Rachel V. Rose, JD, MBA Ryan Buckner Senebria
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberinsurance
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