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Thanks for posting Ted Dziekanowski. Cyber insurance is an important market without doubt. But one suspects that as cyber attack frequency, complexity and severity continue to grow, and cyber regulation takes effect, the role of cyber insurance as a sole risk transfer tool will change.
So far one finds little discussion about the effects of the changing U.S, EU cyber regulatory landscape and the effects on the insured and cyber insurer as risk moves towards corporate financial statements. As cyber regulation is a legal risk, effecting boards, what is the impact on D&O insurance?
With a predicted CAGR of 25% for written premiums, one also wonders about the amount of regulatory capital reinsurers will be expected to carry, to cover the increased risk exposure to their balance sheets. Especially when there is no correlation between premiums, incidents and outcomes when one considers the fluidity of cyber attacks, the maturity of the insured, and the non-affirmative effects of cyber on reinsurers are considered.
Gerry Kennedy
#cyberinsurance #cyberriskmanagement #cyberattacks
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