Cyber Insurance: Is This the Beginning, Middle or End?

Overview

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Many in the insurance industry are on increasingly high alert after a recent explosion of ransomware incidents, with attacks rapidly growing in scale and sophistication. Recent attacks have affected businesses, schools, hospitals, critical infrastructure, government systems and even the insurance industry itself as several insurers have seen ransomware incidents within their own operations.

As ransomware evolves, concerns have been raised about the state of the cyber insurance marketplace. Some are questioning whether insurers can keep up with increased demand or if cyber exposure is too big for the private sector to handle alone.

In a recent Insurance Journal poll, more than 70% of respondents said they were somewhat worried about the state of the cyber insurance industry given the recent escalation in ransomware incidents, and nearly 30% of respondents said they were very worried.

In this webinar, you’ll hear from experts about growing ransomware concerns and what they mean for cyber insurance.

WHAT YOU WILL LEARN:

-the impact of recent significant ransomware attacks and lessons learned

-how a growth in ransomware-related claims could affect capacity in the cyber insurance space

-what’s changing about state and federal governments’ responses to ransomware

-the risks of paying ransoms for victims and their insurers

-what to expect regarding ransomware and its impact to cyber insurance in the near future

Hosted By:

Elizabeth Blosfield, Insurance Journal East Editor

Panelists:

Marc Voses, Partner, Clyde & Co.

Julian R. Sylvestro, Vice President, risk advisor, cyber risk practice leader, Hylant

Bob Wice, Global Head of Underwriting Management, Cyber & Tech, Beazley

Justin Herring, Executive Deputy Superintendent, New York Department of Financial Services

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