Cyber Coverage: What You Don't Know Might Hurt You
October 22, 2019
The threat of cyber-attacks – attempts by hackers to damage or destroy a computer network or system – continues to grow. So too does the threat of the “silent cyber” risk for insurers: the exposure to claims from polices that were neither intended to respond to, nor priced for, cyber-related events.
The insurance industry has been responding by more clearly stating their coverage in cyber policies. Meanwhile, vendors are taking more proactive steps such as requiring subcontractors to include cyber insurance as part of their contractual obligations.
Conning’s Insurance Insight report “Cyber Coverage: What You Don’t Know Might Hurt You” provides a detailed review of the issues related to cyber coverage and steps the industry is taking to ensure coverage is more clearly explained to customers. It also highlights the need for improvements in buyer education, both in assessing risks and understanding coverage.
Click here to read the Insurance Insight.