With cyber risk as the hottest topic during the Risk and Insurance Management Society’s (RIMS) annual conference here, a common theme emerged: Now is the time for collaboration and innovation among brokers and insurers, but the best way to achieve that is yet to be determined.
However, the steps taken to achieve broad cyber coverage at the right price with the right players represent an area of collegial disagreement among many industry participants. How many carriers should be on a tower and at what limits? What’s the current capacity ceiling? How broad is too broad in coverage terms?
Building upon the 2016 RIMS event—when the main topic of conversation addressed the strides cyber insurers needed to make to meet organizational needs of buyers—this year’s talks reflect the fact business interruption (both contingent and direct), cyber-related property damage, bodily injury, and reputational harm are all risks for which the growing cyber insurance marketplace has developed solutions.
Read more at http://www.advisenltd.com/2017/04/27/cyber-insurers-brokers-seek-harmony-crafting-coverage/
Erin Ayers, Cyber insurers and brokers seek harmony on crafting coverage (April 27, 2017), available with subscription at Advisen Cyber Front Page News.
Advisen Ltd. 