One of the top three risks highlighted by Munich re facing carriers, brokers those that make insurance decisions in 2024 is cyber. It sits up there with economic stability and climate risks. With an increase in cyber attacks of 247%…
A worthy cause and charity supporting those with brain cancer. View Original Post
I learnt a few things working in insurance. One being that insurance is the least exciting and the most exciting product. The least exciting, as its often seen as a necessity purchase. The most exciting as the claims process takes…
To quote @Thaddeus Dziekanowski, the ‘shoemakers children don’t have shoes’ as the New York Services Department of Financial Services fines Travelers Indemnity Company and Great Employees Insurance Company a combined $11.3m by the regulator into cybersecurity practices at both companies.…
Boards globally have always found it difficult to understand cyber risk, and the effects of cyber risks be they financial, operational, legal or shareholder.To some degree this is due to the mixed messages board receive from across industry. Take the…
If cyber insurers believe that cyber insurance will be vital in securing organisations, one suggest that there needs to be a rethink. It’s as vital as health insurance in ensuring that I am healthy. However health insurance doesn’t help me…
Jam tomorrow, but I dont want Jam, is this the problem cyber insurers face? Three reports in a week (Swiss Re, Allianz and Howden) describe the challenges cyber insurers face with growing the market. Reports that point to a slow…
Another London Bus Brian D. McCarthy @Thaddeus Dziekanowski Faisal Khan, this time from the Insurer Howden (following the Swiss Re and Allianz reports last week). This Howden study continues the trend of highlighting the challenges that cyber insurers face with…
This report from Swiss Re seems to show the cyber insurance market is cooling down and market optimism maybe to………optimistic. Does this tell us anything about the challenges companies face with risk management and risk transfer, and the take up…
The frequency and severity of cyber attacks is up as reported by Allianz Commercial. Who has seen the frequency of large cyber claims up by 14% an severity 17% in the first six months of 2024. While ‘non-attack’ claims also…
