22 January 2025
Myra Knoesen
As cyber incidents continue to top the concerns of the financial services sector, there is an increasing urgency to bolster defences against these evolving threats.
With the horizon set on 2025, insurers are being pushed to reassess and refine their strategies to stay ahead of emerging cyber risks. FAnews recently spoke with Ryan van de Coolwijk, Business Unit Head: Cyber, Collectables, and Digital Distribution at iTOO Special Risks, to gain insights into how insurers are preparing for the next wave of cyber threats.
Strategies for emerging cyber threats
Given that the Allianz Risk Barometer recently highlighted cyber incidents as a top concern, insurers are adapting their approaches to address these threats effectively.
Van de Coolwijk explains, “As cyber insurers, we constantly need to keep an eye on the changing risk landscape to ensure that we can best insure our clients.” The strategies being implemented include:
- Enhanced underwriting processes: the underwriting process is evolving to incorporate a broader view of risk beyond just the proposal form. This holistic approach…
