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One will keep pointing to the fact there are no alternatives to cybersecurity risk management than to ‘Shift Left of Bang’. Cyber is a systemic national security risk, with an attack surface that is as big as the digitial footprint of a nation. @Thaddeus Dziekanowski, if there were other solutions, they would have been found by now.The insurance markets needs to find cash to underwrite cyber risk and it’s an unpredictable systemic risk. The article highlights the concerns the investment community has with cyber ILS instruments. The potential for cyber attacks to cause systemic market wide failure is a concern. The article points out that if a cyber incident turns out to be systemic, there’s a potential for markets in which ILS instruments to trade to be effected directly or indirectly. Affecting the ILS instruments traded on those markets. Compounding this further, many insurance carriers now say the focus is the SME market. A market that presents the worst possible cyber risk.One suspect that investor maturity in understanding cybersecurity risk, the challenges that insurers currently face with understanding cyber risk and the broader ability of nations to defend against cyber attacks. Will make the ILS market a very slow burn.@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Veritas GRC#cybersecurity #cyberriskmanagement #cyberregulation
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