How insurers can learn from the cyberattacks of 2017

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How insurers can learn from the cyberattacks of 2017

Cyber exposure is an unwelcome reality faced by commercial organizations worldwide. It’s one of the fastest growing risks in the world as businesses become more interconnected, data-driven and reliant upon technology.

Events in 2017 pushed cyber security issues into the limelight. Huge hacks highlighted the shocking vulnerability of our personal information as well as the agility of cyber criminals. Hackers targeted consumer’s personal data, hospitals, voting records, school districts and more. While some breaches largely impacted US consumers, others, like the WannaCry ransomware attack, spanned more than 150 countries. Its malicious strain affected more than 300,000 computer systems across businesses worldwide and racked up considerable business interruption losses.

Global insurer Chubb is a top provider in North America’s increasingly active cyber insurance market. It offers a consistent level of cyber protection through three distinct avenues of cyber coverage: standalone, packaged products, and via its executive management package products. The company’s cyber policyholders…

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