What Insurers Need to Know About Next-Gen Cyber Threats
Some cyber intrusions result in full-fledged data breaches, which trigger mandatory regulatory and legal responses.
Insurers writing cyber coverage look to their reinsurer for trends, perspective on risk accumulation, and risk management resources.
Insurers seeking profitability in cyber are closing monitoring rate, limits and underwriting.
Ransomware developers have begun selling their software to would-be peers, making it more difficult to identify the source by the characteristics of the attacking software.
Insureds seeking carrier or coverage or insurers seeking reinsurance face the same challenges: demonstrating security controls, training and concentration of risk.
