Here in lies the challenge for both the insurer and insured. A challenge that must be addressed as cybersecurity risk management regulation is implemented. Cyber insurers understand that the long term costs of a cyber attack can mount. The legal…
The automotive sector is an increasingly problematic sector for cybersecurity. Automotive provides a rich source of personal data, OT and CNI. As we transition to all electric and driverless transport we increase our dependence and the Automotive sector. In turn…
As Lloyds cyber exclusion clauses for ‘state backed cyber attacks’ come into effect one suspects that it is going to face challenges. Firstly being able to attribute a hack to a named group, or individual with enough certainty to pass…
The rating Agency AM Best review of the London Insurance Market makes some interesting observations. It highlights the challenges ahead for the London Insurance Market that are likely given the economic pressures with rising interest rates and inflation. The ability…
Working with organization to implement cybersecurity risk management would be profitable for the insurance industry. It would enable cyber insurers to build the repository of data needed to adequately underwrite cyber, in near real time. Additionally cyber regulation will require…
Is there a view on the validity of cyber insurance in the event of a regulatory breach? With the volume of cyber regulation being developed globally, that appears to affect many industry sectors. Many organizations may be covered by cyber…
Alongside ‘climate risks’, recent cyber stress tests by UK insurers for the Bank of England raised questions over the amount of regulatory capital that insurers are holding to manage cyber risk. Evaluating the impact of cloud outage, mass data loss…
In 2022 we discussed the challenges that cyber insurance industry faces with insuring cyber to the insurance industry and Lloyds of London, in line with the statement made by the CEO of Zurich. We also presented the opportunities for the…
Cyber insurance or self insurance has been the only realistic option available for SMEs to manage cyber risk. As the cost of cybersecurity compliance has invariably been out of reach for most small to medium sized organizations. With cyber insurance…
And the winner is….. I’m not convinced that cyber is an emerging risk, but it is one that the insurance industry is certainly aware. With the cyber insurance industry working to understand how best to underwrite cyber and provide appropriate…
