CFC’s Post

Beware of Ivan Wiper! Uh... who? That's the name of the hypothetical malware imagined by Lockton Re for a report delving into the aftermath of a major cyber catastrophe and highlighting overlooked systemic risks in the cyber insurance sector. "A Kaleidoscope of Possibilities: Preparing for Ivan Wiper," examines the global impact and industry responses of such a scenario with an emphasis on collaboration and innovation as critical strategies. Lockton underscores the industry's resilience and adaptation, anticipating higher pricing, improved portfolio management, and market acceleration post-Ivan Wiper. "Insurers that focus on core risk controls and have built a balanced, diversified portfolio will experience differentiated results," Lockton's Michelle Faylo said in the report, which can be dowloaded here: https://lnkd.in/eKEbiSi6 #insurance #hacking #cyber #risk #innovation #malware #insurtech

What considerations can impact premiums for cyber risk insurance? Join Esther Schagen-van Luit at Moody's Credit Trends 2024. Together with a panel of experienced cyber security experts, Esther will be exploring what kinds of cyber incidents have resulted in rating actions, and how expected cyber loss is modelled. Find out more: https://bit.ly/3SXWgAQ #CreditTrends #CyberRisk #Finance #InformationSecurity

As a Reinsurance Broker, we see firsthand the rising tide of cyberattacks. A single data breach can be devastating, causing financial losses, operational disruption, and reputational damage. That's why we, at Classic Reinsurance Brokers, are dedicated to helping businesses like yours secure the right cyber reinsurance solutions. We partner with leading reinsurers to offer: 1. Tailored coverage: Data breaches, business interruption, regulatory fines - we've got you covered. 2. Capacity & Expertise: Access to industry-leading reinsurers and in-depth knowledge of the cyber risk landscape. 3. Claims Advocacy: Strong relationships with reinsurers ensure you receive fair and timely settlements. Let's discuss your specific cyber risk profile and develop a comprehensive reinsurance strategy that protects your business. #Cybersecurity #security #Cyber

Great insights from the A&M Insurance team on the Mega trends within the sector, their specific impact on Complex Claims Management and the preparations needed from insurers to address the challenges that are already with us. These insights are not based on theories, but upon the real world insights of the A&M team from their time in leading positions with the industry and from helping clients practically implement real, value additive solutions.

You won't want to miss this - mark your calendars & register - this Thursday, June 27th at 10 a.m. PST! With thousands of dealers nationwide scrambling in the wake of the CDK Cyber Incident, we are doing our best to continue to be a compliance resource. KPA and AssuredPartners are partnering up for a webinar to review: - Dealers compliance and reporting obligations - Guidance on Insurance Claims #CyberSecurity #Compliance #InsuranceClaims #KPA #AssuredPartners

In the cyber insurance industry, accurate risk assessment is vital for determining policyholder coverage. When a growing cyber insurer needed to enhance its risk assessment capabilities, the Director of Threat Intelligence turned to Nisos for help. Nisos delivered actionable insights that saved the company $1.5 million in staffing costs and proved the value of the partnership within just three weeks. Explore the full case study here for more info: https://lnkd.in/eYy_RPGE #ManagedIntel #DigitalRisk #HumanRisk

In previous years, cyber-attacks, data loss, and cyber extortion have consistently ranked as the top three cyber risks facing directors and officers. However, this year, an unexpected contender has emerged to claim the top spot. Have you read our Global Directors’ and Officers’ Survey Report 2024? Download it here now: https://ow.ly/vx9350Rn4Bz #Insurance #DirectorsAndOfficers #ASmarterWayToRisk #DirectorsAndOfficersSurvey #WTWRisk #CyberRisk #HealthAndSafetyRisk

Want to hear about the cyber insurance trends that will likely develop in 2024? Tune into our Cyber Predictions 2024 webinar on Tuesday 13th February at 4pm GMT. Our panel of experts, including Rory Egan, Head of Cyber Analytics, Reinsurance Solutions at Aon, will be discussing their predictions for the market. Sign up here - https://hubs.ly/Q02hfD-n0 #CyberRisk #CyberReinsurance

In Australia, 43% of cyber-attack victims are small businesses. That's why Crawford is thrilled to partner with IAG and its new cyber underwriting agency Cylo.ai (backed by CGU Insurance), on a new insurance product designed specifically for small to medium businesses. In today's modern world, cyber insurance has become a must-have purchase for businesses large and small. Then, if the worst happens, it’s of paramount importance to have comprehensive expert cyber incident response help on speed dial to ensure there’s no delay in containing and minimising the damage .... that's where Crawford steps in! We will be providing the 24/7 cyber incident response and end-to-end claims management services on these policies. Learn more about Cylo: https://www.cylo.ai/ Understand more about Crawford's cyber expertise: https://lnkd.in/gZbmvzua #cyberrisk #cyberinsurance #cyberclaims #cyberattack #CrawfordAustralia #iag

As the insurance space becomes more complex and interconnected, the commercial risk and its impact upon communities, entities and businesses is being felt more widely. From climate change to cyber security, our latest paper shares how five megatrends impact the insurance industry requiring insurers to rethink complex claims management, and outlines how insurers should prepare for these challenges. Are you prepared? Access our full paper here: https://okt.to/XDUkH1 Authors: Giuseppe (Beppe) Di Riso, Julia Heidelbach, Stuart Herron, Dorji Wangchuk, Timothy Harrison #Amon #Insurance #ClaimsManagement