Cowbell’s Post

Looking forward to diving into this important discussion next week. I'll be sharing from my experience how at Parametrix Insurance we structure innovative parametric solutions for emerging cyber and downtime risks, leveraging new data sets from various sources and how we use that to manage systemic risk concerns. DM me if you're around! #riskmanagement #cyber #parametricinsurance

We'll be hosting our Predictions 2024 webinar on Tuesday 13th February at 4pm GMT, so sign up to hear about cyber insurance trends to come in the year ahead from our expert panel. OdysseyRe's VP & Head of North American Cyber Underwriting, Christopher Shafer, will be joining us to discuss how cyber underwriting will change in 2024 and what underwriters need to prioritize. https://hubs.ly/Q02hnjqH0 #CyberUnderwriting #CyberRisk

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

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.

Guy Carpenter's recent report reveals that the CrowdStrike IT outage, caused by a flawed update, might result in insured losses ranging from $300 million to $1 billion. The incident highlights the growing importance of robust cyber insurance in managing digital risks. Read the full article here: https://lnkd.in/eqt3ugid Contact us today to learn more about Synergy2: https://lnkd.in/eJd_4V_W #CrowdStrike #GuyCarpenter #InsuranceNews #Reinsurance #ITOutage #Synergy2 #Eurobase

Thank you, Technology First , Always happy to share information that we run into... this topic, Cyber Insurance, is foremost in the mind of all organizations... terms, conditions, coverage...all these changes... Just like the changing landscape of technology, the insurance industry is struggling to keep up with the evolving landscape... to the point where for some it will be out of reach...just a sneak peek at what is below!

According to CyberCube's cyber catastrophe model and industry exposure database, the CrowdOut event is a major event for the cyber insurance market but does not come close to the destructive potential that leading insurers are holding capital against. Read more here: https://lnkd.in/ebCtqnaS #CrowdOut #CrowdStrike

As someone who has worked in cyber insurance, Zane Goldthorp witnessed firsthand the devastating consequences these attacks can have on small businesses. Shockingly, over 50% of companies that experience a ransomware attack don't survive. The financial losses and manipulation of funds are heart-wrenching, with some companies losing up to $250,000. It's a sobering reality that highlights the importance of having comprehensive cyber insurance policies. Let's work together to protect businesses from these threats. https://bit.ly/3SM4Vq7 #Insurance #BusinessProtection

Meike Röllecke, Head of Cyber and Financial Lines at HDI Global SE, highlights the ongoing challenge in accurately identifying systemic cyber scenarios. The reliance on assumptions persists as insurers often lack sufficient client information. While the industry has faced significant cyber challenges, including zero vulnerabilities and ransomware attacks, Röllecke suggests a seismic impact is yet to be witnessed. Read the full interview here: https://lnkd.in/eWMPcPRb #HDIGlobal #WeAreHDI #PartnerInTransformation #CyberInsurance