Cyber is all about assurance and risk management
When we started CRIF last year, US based publications [insurance and infosec] asked how CRIF could help a North American cyber liability market that was already 7-8 yrs old.
I made the point that the US market is very much led by third-party policies [as defined in the UK] and that first / third party would predicate better risk management.
Here is a link to an article that follows on from this theme and if you have time to read it you may see there is a growing urgency for better risk management and realising the potential for residual risk to be transferred to cyber insurance.
Cyber threats and security breaches forcing companies to re-evaluate... canadianunderwriter.ca
Risk managers are being forced to reconsider how they protect company data and proprietary information because of cyber threats and security and privacy breaches , according to a recent survey from Towers Watson
Daljitt is Chairman of the Cyber Risk and Insurance Forum. You can contact him HERE!
You might also like ...
Cyber attacks: Directors' Liability
The risk of a cyber attack is material for the majority of businesses in the financial services industry today.
Such attacks are increasingly sophisticated, widespread and disruptive.
The solitary teenager hacking out of a sense of curiosity has been replaced by criminal gangs seeking improper financial gain. As a consequence, the financial consequences are increasingly significant.