What Insurers Need to Know About Next-Gen Cyber Threats
Insurers seeking profitability in cyber are closing monitoring rate, limits and underwriting.
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.
Ransomware attacks are expensive, including costs of payment, operational interruptions, data restoration and more.
