What Might a ‘Cyber Andrew’ Look Like?

September 27, 2015 by Tomas Girnius and Scott Stransky

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Executive Summary

Trophy targets such as credit card acquirers and cloud providers—and even commonly used software applications—expose insurers to the prospect of covering cyber events with effects that are the equivalent to Hurricane Andrew in the property world, according to AIR Worldwide scientists.

Every component of the world’s public and private infrastructure is subject to the risk of a cyber attack. Companies today face loss of or damage to digital assets; theft of funds; security and privacy breaches and associated liabilities; and nonphysical business interruption. Executive SummaryTrophy targets such as credit card acquirers and cloud providers—and even commonly used software applications—expose insurers to the prospect of covering cyber events with effects that are the equivalent to Hurricane Andrew in the property world, according to AIR Worldwide scientists.