Good quick reads from RPS and Amwins on the State of the US Cyber Market. https://lnkd.in/eZqWtyX7 https://lnkd.in/e5aC_piG Of particular interest and probably should be in the coverage section (s):
Barry Rabkin
5d
We use the term "cyber insurance" throughout most, if not all of our discussions, but key questions for existing and future insureds are, at a minimum: 1) how much cyber insurance coverage is each carrier selling (at a moment of time)?, 2) what are the terms, conditions, and restrictions of the cyber cover pieces the carrier is selling, and 3) what are the range of premium levels the carriers are selling for the amounts of cyber cover pieces? To Martin Ellingsworth comment, I sincerely hope that cyber insurers never agree to standardized cyber insurance terms. Cyber risks are as far from being a "mature" or "stabilized known set" as a young star emerging in space is as far from dying. Cyber attacks are similarly nowhere near "mature" nor "stable". Yes, cyber risks have been around, from a cyber insurance perspective, for 20+ years. Irrelevant. Cyber risks are constantly evolving into new and more complex forms. Cyber risks (and their losses) represent a market where past history has very little, if anything, to do with future cyber risks and their losses.
Now we just need to get all those wordings organized so we can know what we are getting