What Insurers Need to Know About Next-Gen Cyber Threats
Ransomware attacks are expensive, including costs of payment, operational interruptions, data restoration and more.
Insurers and reinsurers are learning to better distinguish what cyber risks are insurable, high-risk but insurable, or uninsurable.
Insureds seeking carrier or coverage or insurers seeking reinsurance face the same challenges: demonstrating security controls, training and concentration of risk.
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.
