Cyber Underwriters Dispel Myths About Pricing, Risk Assessment

Nick Economidis, underwriter at Beazley, wants to dispel a myth.

Speaking at Advisen’s Cyber Risk Insights Conference, he explained that underwriters are not “trying to measure individual companies’ risk and come up with a special price just for them.” He referred to models that provide an estimated cost for a risk type and size, based on average losses and probable maximum losses.

His message to the sold-out audience: “We want to kick out bad risks. We look at the general model price and adjust it based on the quality of risk.”

Read more at http://www.advisenltd.com/2016/05/23/cyber-underwriters-dispel-myths-about-pricing-risk-assessment/

Josh Bradford, Cyber underwriters dispel myths about pricing, risk assessment (May 23, 2016), available with subscription at Advisen Cyber Front Page News.