LONDON–(BUSINESS WIRE)–A new study of the UK cyber risk insurance and broker community reveals
startling findings. First and foremost, the insurance industry needs to
address non-affirmative cyber in a meaningful way. Second, measurement
of cyber risk in financial terms is highly deficient among insurance
customers and the insurance industry itself. Finally, a series of
catastrophic cyber events or a systemic cyber event will drastically
alter the way in which insurers measure the risk profile of each
applicant.
The survey was sponsored by Secure
Systems Innovation Corporation (SSIC), the cyber risk management
firm that created X-Analytics®,
the world’s first cyber risk model that quantifies the economics of
cyber risk.
More detailed survey results follow:
‘Silent’ Cyber Risk is Key Market Growth Inhibitor
More than three-quarters (77 per cent) of UK cyber risk insurance
brokers and insurers believed that the insurance industry needs to
urgently address non-affirmative cyber or ‘silent cyber’ in a deeper,
…
