If the headline sounds like a title to a horror movie, that may be appropriate because according to panelists here at Advisen’s Cyber Risk Insights Conference, detecting “silent” cyber coverage risks is a nightmare.
Due to an increasingly complex interconnected world, the potential for a cataclysmic cyber event cascading across multiple lines of coverage casts a shadow over the industry.
The issue is “far more of a concern than affirmative cyber [coverage] we underwrite and price,” said Brad Gow, senior vice president at Endurance. “We’re talking about legacy lines of business drafted far before this was a concern. With the Internet of Things, the attack surface grows exponentially.”
Read more at http://www.advisenltd.com/2017/02/24/silent-cyber-coverage-reckoning/
Chad Hemenway, Silent cyber coverage: The reckoning (February 24, 2017), available with subscription at Advisen Cyber Front Page News.
Advisen Ltd. 