What Insurers Need to Know About Next-Gen Cyber Threats
Insureds seeking carrier or coverage or insurers seeking reinsurance face the same challenges: demonstrating security controls, training and concentration of risk.
The decision to pay or reject ransom demands is a complicated mix of identifying the source, evaluating backup plans and remaining compliant.
Insurers seeking profitability in cyber are closing monitoring rate, limits and underwriting.
Insurers and reinsurers are learning to better distinguish what cyber risks are insurable, high-risk but insurable, or uninsurable.
Cyber intruders are using the experience of early ransomware efforts to design deeper, multi-layered attacks that combine holding data hostage with the possibility of intentional breaches.
