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.
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.
Insurers and reinsurers are learning to better distinguish what cyber risks are insurable, high-risk but insurable, or uninsurable.
Insurers writing cyber coverage look to their reinsurer for trends, perspective on risk accumulation, and risk management resources.
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.
