Collaboration is vital to understanding this hugely important risk, and ensuring the market can provide sustainable cyber coverage into the future, says Carlos Rodriguez Sanz of AXA XL.
In what way is cyber risk changing?
The cyber risk landscape continues to evolve at a fast pace. Ransomware is a persistent, yet changing, threat for all organisations, while in a world of growing geopolitical tensions, the threat posed to companies and critical infrastructure from nation states cannot be overstated.
At the same time, we need to anticipate the future risks posed by advances in technology, such as artificial intelligence and quantum computing, as well as an uncertain and developing legal and regulatory environment.
Throughout the risk chain, from client to broker to underwriter, working to understand this complex risk, and putting in place strategies to assess, mitigate, manage and transfer it, requires empathy and collaboration. As a marketplace, we need to work to ensure that we are helping clients to understand their own risks and build resilience, and that insurance coverage is relevant and suited to their changing needs.
Do you see growing demand for cyber…
