This market briefing will discuss the challenges of the underwriting and pricing of cyber insurance as well as highlighting trends and large losses to explore their impact on cyber insurers.

Description

Recent large loss trends reflect the globalization of issues such as ransomware and privacy protections as well as “run of the mill” individual data breach losses. Furthermore, reliance on global managed service providers has heightened the risk of loss aggregation. Underlying these losses is an increasingly aggressive set of external threat actors as well as an environment of stronger regulatory enforcement and an active plaintiff bar.

This market briefing session will examine some of these trends and large losses to explore their impact on cyber insurers. Drawing on insights from Zywave’s cyber loss data base (Formally Advisen, Zywave have a dataset of over 150,000 cyber loss cases, affecting companies around the world, with a current total economic loss value in excess of US $80 Billion.) the topics to be covered include:

• Trends in the frequency of large loss
• The evolution of threats and regulations that have influenced this large loss trend
• Current examples of large losses – both potential and actual
• Ways to evaluate exposure to large loss

Speaker

• James Blinn, Vice President, Client Solutions, Zywave