Cyber Trends 2017: Business Interruption a Top Concern

Cyber-related business interruption quickly became a top issue in 2017 as high-profile ransomware attacks demonstrated that just about any company can be victimized.

A panel of experts speaking on Advisen’s cyber risk trends webinar last week discussed the impact cyber-related business interruption (BI) claims have had on the insurance industry.

“This is probably one of the top issues facing clients in 2017,” explained Stephanie Snyder, SVP & national sales leader, cyber insurance at Aon. “It’s something that every company needs to consider, cyber insurance is not just about data breaches, it’s much broader than that.”

Josh Bradford, Cyber trends 2017: Business interruption a top concern (November 20, 2017), available with subscription at Advisen Cyber Front Page News.

Cyber Risk Trends: Q2 2018

Tuesday, August 7, 2018 at 11:00 AM ET

What cyber risk trends are we witnessing this quarter? On Tuesday, August 7th at 11am ET, Advisen will host a free, one-hour webinar which will examine a litany of cyber risk trends derived from our proprietary database of approximately 40,000 cyber events. Advisen’s Aloysius Tan and Erin Ayers, as well as a panel of experts, will examine what occurred in cyber risk trends in Q2 of 2018 and elaborate on how these trends can inform the cyber community.

Our panelists will also discuss the ramifications and implications of an array of provocative data views. By reviewing the largest possible arsenal of Cyber Event data, this webinar will showcase both the known and the unknown for risk managers, insurance buyers, and all P&C professionals who focus on cyber liability.

For more info and registration of this webinar, visit https://www.advisenltd.com/2018/08/07/cyber-risk-trends-q2-2018/

Advisen Ltd. August 2018. Cyber Risk Trends: Q2 2018 [Webinar].

Cyber Risk Trends: Q1 2018

Tuesday, May 8, 2018 at 11:00 AM ET

What cyber risk trends are we witnessing this quarter? On Tuesday, May 8th at 11am ET, Advisen will host a free, one-hour webinar which will examine a litany of cyber risk trends derived from our proprietary database of approximately 40,000 cyber events. Advisen’s Aloysius Tan and Erin Ayers, as well as a panel of experts, will examine what occurred in cyber risk trends in Q1 of 2018 and elaborate on how these trends can inform the cyber community.

For more info and registration of this webinar, visit https://www.advisenltd.com/2018/05/08/cyber-risk-trends-q1-2018/

Advisen Ltd. May 2017. Cyber Risk Trends: Q1 2018 [Webinar].

‘Coming Storm’ Emphasizes Need for Greater Insurance-Technology Alliance on Cyber Risk

Ben Beeson is no longer brokering cyber insurance. In a new role, he’s tasked with building a bridge between technology and insurance.

Beeson, former cyber risk practice leader with Lockton, joined start-up Arceo Analytics in the summer. The information technology and service provider remains in stealth mode but Beeson spoke with Advisen about his move.

“We’re on the cusp of a major shift in the way insurers and their customers evaluate cyber risk,” Beeson told Advisen “Fundamentally, that’s to do with the increasing ability to capture data points that were not previously available – in real time.”

Chad Hemenway, ‘Coming storm’ emphasizes need for greater insurance-technology alliance on cyber risk (November 9, 2017), available with subscription at Advisen Cyber Front Page News.

Insurers ‘On the Right Path’ to Managing Cyber Risk Aggregation

NEW YORK — The time to manage cyber risk aggregation is now and it may be an uphill battle against lack of historical data and certainty of the risk, but the industry appears to be on the right track, according to a panel of experts speaking during Advisen’s Cyber Risk Insights Conference here on Oct. 26.

Currently, determining whether insurers are well capitalized to handle the cyber risk aggregation is “basically impossible” due to lack of data, according to Fred Eslami, senior financial analyst and cybersecurity leader for A.M. Best. Traditionally, the roads to impairment for insurers have been underreserving, expanding too quickly, and natural catastrophe losses. Ratings firms have metrics to input into their capital models for those risks – not for cyber, but Eslami added that they are making strides.

“We don’t believe that it’s getting to a point where the so-called cyber PML would exceed earthquake or hurricane levels,” he said.

Erin Ayers, Insurers ‘on the right path’ to managing cyber risk aggregation (November 2, 2017), available with subscription at Advisen Cyber Front Page News.

Cyber Risk Trends: 2017 Wrap-Up

Tuesday, January 30, 2018 at 11:00 AM ET

What cyber risk trends are we witnessing this quarter? On Tuesday, January 30th at 11am ET, Advisen will host a free, one-hour webinar which will examine a litany of cyber risk trends derived from our proprietary database of approximately 40,000 cyber events. Advisen’s Aloysius Tan and Erin Ayers, as well as a panel of experts, will examine what occurred in cyber risk trends in Q4 of 2017 and elaborate on how these trends can inform the cyber community. Our panelists will also discuss the ramifications and implications of an array of provocative data views. By reviewing the largest possible arsenal of Cyber Event data, this webinar will showcase both the known and the unknown for risk managers, insurance buyers, and all P&C professionals who focus on cyber liability.

For more info and registration of this webinar, visit https://www.advisenltd.com/2018/01/30/cyber-risk-trends-q4-2017/

Advisen Ltd. January 2018. Cyber Risk Trends: 2017 Wrap-Up [Webinar].

2017 Survey of Cyber Insurance Market Trends

October 2017

PartnerRe and Advisen are proud to release a white paper that features the results of a comprehensive survey of the evolution of the market for cyber insurance, both first- and third-party coverage, and the factors and trends impacting that evolution. The 14-page paper also highlights how players view key events and issues such as the impact of the general data protection regulation (GDPR) on the take-up rate for cyber liability insurance, the Dyn DDOS attack, and the WannaCry ransomware attack.

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

PartnerRe | Advisen Ltd. October 2017. 2017 Survey of Cyber Insurance Market Trends [White Paper].

2017 Information Security and Cyber Risk Management Survey

Advisen and Zurich released a white paper that highlights the results of a survey conducted among risk professionals to get their view of corporate attitudes and strategies around cyber risk and cyber security in general. The 11-page white paper concluded that recent developments warrant a greater need for guidance in developing cyber risk management programs and improving cyber risk policies in general.

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

Zurich | Advisen Ltd. October 2017. 2017 Information Security and Cyber Risk Management Survey [White Paper].

Blockchain and Cyber Risk

Wednesday, October 18 at 11am ET

Imagine a world where every process, agreement, task and payment would have a digital code that could be identified, validated, stored and shared. That’s the gigantic potential of blockchain technology. According to Forbes, “everyone from Wall Street to Walmart is betting on it.” The important question in the insurance industry is how blockchain adoption will affect cybersecurity and cyber insurance.

For more info and registration of this upcoming webinar, visit: https://www.advisenltd.com/2017/10/18/blockchain-cyber-risk/

SVIA | Advisen Ltd. October 2017. Blockchain and Cyber Risk [Webinar].

2018 Cyber Risk Insights Conference – Chicago

Advisen returns to Chicago with our Cyber Risk Insights Conference series as a full-day and a half event addressing the critical privacy, network security, and cyber insurance issues confronting risk professionals and their organizations. An expert faculty comprised of leaders in network security, regulation, law enforcement, risk management, and cyber risk insurance will offer their insights on managing risk on a rapidly evolving and increasingly dangerous threat landscape. This day of learning and networking for risk managers, CISOs, CROs, insurance brokers, underwriters, reinsurers, and other risk professionals will present a global perspective on cyber threats, but also will examine how the business and regulatory environment of the Midwest influence cyber risk management decisions.

For more info and registration about this upcoming event, visit the link below:

https://www.advisenltd.com/05/22/2018-cyber-risk-insights-conference-chicago/