One wonders if Zurich has considered doing the same for cyber insurance and cyber risk management.

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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 the insurance industry to address cyber risk, other than to increase premiums, reduce limits and add exclusion clauses. Insurers have found it difficult to address small business cyber, focusing on ‘Right of Bang (RoB)’ solutions (pricing based on RoB, insured limits and exclusions) and one has not heard of many solutions that support clients adopt ‘prevention’ over incident response.

Now that regulators have reached the same conclusion, that ‘Prevention is better than cure’. It is time that the insurance industry consider ‘Prevention’ and managing cyber risk ‘Left of bang’. Is there is another economic solution? We have written extensively about this (https://lnkd.in/eHRxNcps).

The Augusta Group has and continues to develop solutions to address this problem for its clients and insurers. Addressing regulatory compliance and risk transfer.

Ted Dziekanowski Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA

#paravasecuritysolutions #cybersecurity #cyberinsurance #cyberriskmanagement

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