If cyber insurance were bigger, 2017 would hurt
Thursday, 11 30 2017, Category: Technology, Country: World
As the market for cyber insurance grows the amount of exposure in the re/insurance industry is increasing, so reinsurance companies are also finding their portfolios more exposed making the ability to hedge that exposure vital, according to Tom Johansmeyer, Assistant Vice President, PCS Strategy & Development at ISO.
While you were watching Hurricanes Harvey, Irma, and Maria, you may have missed something important! Quietly, 2017 has become a major year for large cyber risk losses. Three events resulted in significant insured losses, and in aggregate, they could be more meaningful to the cyber reinsurance industry than the U.S. hurricanes and wildfires combined.