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The cyber insurance industry is in real need of innovation. The predictions coming from the industry over the past 2 months about the insurability of cyber both from the CEO of Zurich and the World Economic Forum (WEF) have not been to promising for the insured.
War clauses are not the only concern, 2023 will require innovation from insurers and the insured as cyber regulations develop. EU NIS 2 and DORA have been passed, the SEC is due to make a decision on its 2022 cyber security risk management proposal and the Whitehouse ONCD is due to release a national cyber strategy, that will likely recommend more cyber regulation (Chris Inglis). Innovation is not difficult for cyber insurers, there are win-wins for both the insured and insurer (https://lnkd.in/dGFVVjCi).
Ted Dziekanowski Gerry Kennedy
#cyberinsurance #theaugustagroup #cybersecurity #cyberriskmanagement
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