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 seeking profitability in cyber are closing monitoring rate, limits and underwriting.
The decision to pay or reject ransom demands is a complicated mix of identifying the source, evaluating backup plans and remaining compliant.
Insurers writing cyber coverage look to their reinsurer for trends, perspective on risk accumulation, and risk management resources.
Insureds seeking carrier or coverage or insurers seeking reinsurance face the same challenges: demonstrating security controls, training and concentration of risk.