Reinsurers are eyeing aggressive cyber growth, but rate rises alone will not be enough to achieve sustainable growth
The evolution of cyber attack activity as a service economy that enables unskilled actors to purchase attack capabilities and tools is a major challenge for risk modellers
The main responsibility for monitoring and investigating cyber crime rests with government and law enforcement, but businesses and their insurers also have a key role to play
Concerns over ransomware losses and risk accumulation have sent some cyber reinsurers into retreat mode. However, in a hardening market ripe with opportunity, insurers that truly understand their exposures should find no shortage of willing capacity
The increased vulnerability of larger banks to single points of failure technologies is resulting in significant losses despite the higher level of defensive measures in place
Insuring cryptocurrencies is daunting. But it is also one of the biggest opportunities for the insurance market to innovate and to ensure its relevance in the digital age
Companies will need pricing discipline, better exposure management and robust reinsurance to cope with the increase in the number and cost of loss events
For insurers, it is imperative to check if the threat actor is on any international sanctions lists
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