The Evolution of Cyber Insurance Industry: Unraveling the Complexities

The cyber risk insurance industry is rapidly developing, with a staggering worldwide gross written premiums rising from 850 million dollars in 2012 to about 2.5 billion dollars in 2014. The market is growing fast due to the increasing number of cyber-attacks and the intensifying technological dependence of companies on operational competencies and data storage. Amidst this rising demand, however, insurance firms are still struggling to define policies. A number of imperfections in the market are still not being addressed and this may lead to a sub-optimal outcome. As of June 2014, the total global cybercrime losses was 445 billion dollars. The governments’ heightened involvement in cyber threats could mean that compulsory cyber risk insurance is on the horizon and this would definitely transform the insurance market into a robust revenue source. Both businesses and the insurance industry should respond now to be able to manage the big shift.
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How insurtech investment trends shape innovation strategy

KNect365

Investment in insurtechs skyrocketed to 2.6 Billion in 2016, with increasing investments growing annually since then. Every insurance company is prioritising digital transformation. In this #InsurTechRisingLive webinar, our experts discuss trends in technology adoption over the last 3 years and how the changing investment, regulatory, and adoption landscape will shape the next 3 years.
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EFFECTIVE INSURANCE PLANNING & CLAIMS MANAGEMENT FOR BUSINESS INTERRUPTION PART 2: POST-LOSS — MANAGING THE CLAIMS PROCESS

Holmes Murphy

The threats may be changing, but the result stays the same — Business Interruption is one of the top risks for companies year after year. To no surprise, the impact of Business Interruption can be hard to measure and have a tremendous effect on a company’s revenue. Whether the threat is through Cyber Incidents, Fire/Explosion, Natural Catastrophes, Supplier Failure, or Machinery Breakdown, Business Interruption coverage is a challenging coverage to write and adjust. To add to the complexity, today’s political and business landscape can cause abrupt regulatory or licensing changes, adding an additional layer of uncertainty.
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Managing Productivity Remotely

We live in a world where digital tools, video conferencing, and working from home is the new normal. In the new normal, how can business leaders adapt their management to effectively determine the workloads and output of employees? Join our panel discussion on strategies for managing teams remotely.
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Staying Current on Insurance Issues Confronting Nonprofit Organizations

Lorman

For most nonprofit organizations, the importance of insurance is old news. Too often, that appreciation stops at the headline and remains frozen in the past. Nonprofit organizations, their directors, and their executives sometimes assume that broadly named form insurance policies cover their potential liabilities without reading the fine print. When disaster strikes that fine print can make the difference between a nonprofit organization receiving its bargained-for insurance benefits and dipping into its own reserves.
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