Insurers face cyber aggregation
Friday, 05 12 2017, Category: Technology, Country: World
The interconnectivity of devices and Internet of Things (IoT) can adversely impact insurers’ balance sheets and portfolios due to the nature of cyber risk aggregation.
This is according to Matt Webb, global head of cyber at Hiscox, who spoke to Intelligent Insurer about how this space is creating new challenges around modelling these aggregated exposures.
He refers to it as ‘the ripple effect’, where a single point of failure in key technological infrastructures has the potentially to initiate a chain of events.
Source: Intelligent Insurer