Call us now:
Yes, cyber will be, should be, the biggest concern to the Insurance industry.
One would suggest that ICT risk, such as that experienced last week, combined with cyber will be big enough risks to capital that insurers will leave the market.
Cyber and ICT risk will move up the list of non peak nat cat risks (see Lloyds of London Q1 market message). ICT and cyber risks are more volatility and less predictable than the LCM 5.
https://lnkd.in/dEzMFDWj
So what is the answer? Snake oil ain’t gonna work. Cyber and ICT risk needs managing Left Bang; through contracts and with insurance.
One suspects the rabit is truly in the headlights.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Rachel V. Rose, JD, MBA Ryan Buckner
Veritas GRC Lloyd’s Market Association CrowdStrike
#cybersecurity #cyberriskmanagement #risktransfer
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