A hard market requesting higher transparency and more proactiveness

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Insider Engage

About this talk

Cyber Insurance 2.0: A hard market requesting higher transparency and more proactiveness Take part in an open conversation about current trends in the cyber insurance market, the changing threat landscape and need for an altered approach when underwriting cyber risks. In this session, we will discuss drivers behind the changes in rating and loss trends in the cyber insurance market, new approaches to underwriting and risk management, internal alignment around the communication of cyber exposures, the mismatch between cyber threats and some organisations’ defences, and resilience and responsiveness in the face of cyber attacks. Speakers: ➤Jean Bayon de La Tour, Head of Cyber, Continental Europe, Marsh ➤Stuart Davis, Director Services, EMEA, CrowdStrike ➤Marko Polunic, Director of Business Development, EMEA, CrowdStrike ➤Elizabeth Pfeuti, Financial Journalist at Rhotic Media (moderator) ➤Brian Warszona, UK Cyber Deputy Practice and Business Development Leader, Marsh Key takeaways: ➤ Cyber insurance: the current state of the cyber market, drivers behind hardening rates, impact of ransomware, loss trends and claims data ➤ Changes in the cyber underwriting process, including the need for greater transparency and a more proactive approach to cyber security on the part of insureds ➤ The communications gap: raising awareness with organisations on cyber risks, through discussions between the CISO & CFO, the head of legal and the wider risk management function ➤ The changing threat landscape, including new techniques used by actors to carry out cyber attacks ➤ Prevention strategies around MFA, RDP, EDR, zero trust and backups ➤ Effective response to cyber attacks and ways to reduce the frequency and severity of claims ➤ Support that can be provided to make companies more proactive in their cyber resilience ➤ Effect on cyber rating and coverage of improved preparedness

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