Gerry Kennedy this is a great question for a Sunday from the Actuarial community, with a balanced answer. Should states help with cyber risk? One believes the answer in the short term is a resounding NO, but it could be…
Where will the capital come from to underwrite cyber risk? Cyber is an unpredictable risk, expensive risk and difficult risk to management. Ransomware attacks continues to rise, the costs of managing cyber risk are increasing and there’s not enough resources…
Insuring cyber is becoming a issue of differentiation for insurers, but that was only every going to be thus. With a focus on cyber incident response insurers have found it difficult to model cyber risk. There’s no correlation between cyber…
Travelers joins the queue of insurance companies publishing their annual evaluation of corporate risk. Their 2024 Risk Index identifies concerns over cybersecurity at an all time high. While numbers are always subjective, the survey identifies concerns similar to those identified…
One wonders if the challenges ahead for cybersecurity and risk transfer is not one of insurance price increases. But more one of how boards and CISOs will manage risk transfer? Cyber attack frequency, complexity and severity show no signs of…
Thank you for posting Johnathan Rudy, you raise several important points for the insured when one considers the role of ‘state’, ‘state backed’, ‘cyber war’ and on ‘behalf of a state’. With the introduction of exclusion clauses mention recently by…
A paper worth reading. Munich Re presented recently on the state of the insurance market echoing in part sentiments raised by Lloyds of London in their Q1 2024 Market update. What is of note is cyber insurance; possibly highlighting the…
The challenge for insurers is multi-fold, the industry does not have time on its side when it comes to cyber insurance. Cyber attacks, their severity and complex is increasing at a greater rate that industry can address them. There are…
Moving the risk management pieces around the chess board. As the public and private sector continues to come to terms with cyber and ICT risk. The last time system risk was put back on the tax payer it cost governments…
One does not necessary believe that the question is one of insurers being your friend. The question is one of ‘Is risk transfer your friend’? History shows us that unregulated organisations have typically relied upon insurance as a sole risk…
