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.
Characteristics of a ransomware attack reveal much about the source or identity of the attack, which can help determine the likelihood of recovering their data.
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.
Insurers and reinsurers are learning to better distinguish what cyber risks are insurable, high-risk but insurable, or uninsurable.
Some cyber intrusions result in full-fledged data breaches, which trigger mandatory regulatory and legal responses.
