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…
Olaf Classen one wonders how Munich Re factors considers the recent Lloyds of London announcement of costs of a catastrophic cyber attack, the CEO of Zurich stating that he believes cyber is an uninsurable risk and the recent announcements by…
A further cyber readiness report, that is worth a Sunday read from Hiscox. What’s buried in the data is important as the trend of cyber reports from the insurance industry is conveying a similar message. Cyber attacks are on the…
We have spoken about cyber for many years as though it is a distant far off threat and risk category that is unlikely to affect us. Our messaging has not always been as clear as needed, when it has been,…
The cyber insurance gap is increasing, and will continue to increase as cyber attack frequency complexity and severity of impact increase, cyber maturity remains low, and cyber remains a risk that boards find difficult to understand and manage. As cyber…
The UK Financial Conduct Authority issued a dear CEO letter to the insurance market last week. A letter that discussed Putting consumers’ needs first and the regulators wish for firms to demonstrate that products meet customers needs and provide value.…
Thank you for posting Gerry Kennedy. Or, depending very much on the small print and claims, they will contest the claims. On the grounds of reasonable and adequate application of the cybersecurity risk management practices by companies involved. One suspects,…
A report by reinsurance broker Lockton Re discussing the benefits of breaking cyber peril into parts to support the re-insurance marketplace. Splitting first party and third party peril in support of the reinsurance industry handle peril. with reports discussing the…
What does the future look like for cyber insurance? We’ve written many column inches discussing this topic. Premium increases and cover restrictions have hidden the message associated with profits. There’s no answer yet to the 99% problem. The capital question…
Cyber insurance underwriting has always been an art and one expects it will remain so for some time to come. As cyber insurers get to grips with the fact that Right of Bang data does not correlate with an organizations…
