Podcast: Play in new window | Download (Duration: 32:26 — 37.1MB) | EmbedSubscribe: Google Podcasts | Email | RSSIn this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat. In part II, we invite Chip Block of the firm Evolver back into the studio to talk about the challenge that “converged” cyber physical systems pose to insurance carriers as they try to wrap their arms around their exposure to cyber risk. Editor’s note: as an experiment this week, we’re posting each interview as a separate download, to see if that makes it easier for listeners to jump to the content they’re most interested in. Use the comments […]
Search Results for "insurance"
In-brief: Insurance giant AIG announced Monday that it has started offering cyber insurance to protect individuals and families from ransomware attacks, data theft and cyber bullying. But don’t go looking to sign up at Wal-Mart: the service is only available to AIG’s high net worth customers.
In-brief: cyber insurance premiums are jumping following a string of large and high-profile breaches, Reuters reports. But that doesn’t mean insurers are souring on covering online risk.
In-brief: Rapid advancement in the market for cyber insurance is poised to transform a cyber security market based on FUD (fear, uncertainty and doubt) to one based on hard numbers and risk. Consider yourself warned!
Cyber incidents these days tend to follow a familiar pattern: law enforcement is contacted and will begin criminal investigations. Cyber forensic investigators are hired to piece together what happened and security consultants will analyze and remove the malware from any affected systems. Finally: customers who were affected are notified and – typically -offered free credit monitoring services. All of these services come at a cost, of course, as does the business disruption that results. Current cyber insurance policies are structured to recover some or most of those costs. Now companies – from the Fortune 10 on down – are looking to hedge their online risks with various kinds of business insurance. That demand, in turn, is fueling a rapid expansion of the cyber insurance industry that was little more than a niche offering five years ago. But insurance industry experts and corporate security professionals offer words of advice for companies that think they […]