One of the most essential questions when it comes to cyber insurance is that of cyber risk responsibility. A report on global risk perception published by Marsh and Microsoft in 2019, found that most executives are spending less than a day on cyber risk.
Read more: Microsoft and Marsh shed light on cyber risk management
Andrew Maher, a senior underwriter in the cyber division of AXIS, believes changing corporate culture is the best way to increase cyber risk awareness within businesses. Maher first became involved with cyber insurance in 2010 at Beazley and since then has advanced rapidly throughout the sector, joining AXIS as a senior underwriter in November 2018.
Cyber security, Maher outlined, has become about how humans are interacting with the security measures their businesses have implemented. Technology is essentially the back door to a business, he said, and while this door has been upgraded to a bank vault level by many businesses, it is still prone to human error.
“At the end of the day,” he said, “everybody is going to have a breach and it’s not a question of…
