2017 Survey of Cyber Insurance Market Trends

October 2017

PartnerRe and Advisen are proud to release a white paper that features the results of a comprehensive survey of the evolution of the market for cyber insurance, both first- and third-party coverage, and the factors and trends impacting that evolution. The 14-page paper also highlights how players view key events and issues such as the impact of the general data protection regulation (GDPR) on the take-up rate for cyber liability insurance, the Dyn DDOS attack, and the WannaCry ransomware attack.

Read more at https://www.advisenltd.com/2017/10/25/2017-survey-cyber-insurance-market-trends/

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

PartnerRe | Advisen Ltd. October 2017. 2017 Survey of Cyber Insurance Market Trends [White Paper].

Cybersecurity Preparedness and Response: A Middle Market Risk Management Perspective

September 2016

Advisen and The Hartford released a white paper which presents the results of a comprehensive survey of middle market professionals on their views about cyber preparedness. The study was conducted to gain insight into the cybersecurity preparedness and response strategies of businesses with revenues/ budgets between $15 million to under $1 billion. It revealed interesting views on cyber risk, cyber risk insurance management, cyber incident response plan, and cyber liability coverage. It also offers practical steps on how middle market businesses can mitigate privacy and security risks. The free, 17-page paper is sponsored by The Hartford.

Read and download the white paper at http://www.advisenltd.com/2016/09/30/cybersecurity-preparedness-and-response-a-middle-market-risk-management-perspective/

Advisen Ltd. (2016). Cybersecurity Preparedness and Response: A Middle Market Risk Management Perspective [White Paper]. Retrieved from www.AdvisenLtd.com

Willis Report Sees Added Complexity for Cyber Claims with Government Involvement

The “dynamic” landscape of cyber liability continues to expand and change, as battles between tech companies and law enforcement raised questions about how government authority affects privacy and security earlier this year, according to a new report from Willis Towers Watson.

The firm’s most recent briefing on cyber claims found that the process could become increasingly complicated by the interplay between organizations holding consumer data and investigators seeking that data. The briefing also discussed the rise in cyber extortion, the need to train employees better to avoid breaches, and the implications of the European Union’s data privacy directive.

Read more at http://www.advisenltd.com/2016/08/02/willis-report-sees-added-complexity-for-cyber-claims-with-government-involvement/

Erin Ayers, Willis report sees added complexity for cyber claims with government involvement (August 2, 2016), available with subscription at Advisen Cyber Front Page News.

Cyber Ransom: It’s Covered, For Now

SAN FRANCISCO—Ransomware may be the hot-button issue within the cyber landscape and, for the time being, ransom paid to hackers is covered by insurers.

From Advisen’s Cyber Risk Insights Conference here earlier this month, Samantha Riley, partner at Nicolaides Fink Thorpe Michaelides, said she has handled a “huge uptick” in claims on behalf of insurance carriers, who are paying out the claims under cyber extortion coverage.

Confirming Riley’s observation, Mickey Estey, senior vice president of E&O, cyber and media at RT ProExec of RT Specialty, said insurers have paid in the past with “not a lot of dispute.”

Read more at http://www.advisenltd.com/2016/03/15/cyber-ransom-its-covered-for-now/

Chad Hemenway, Cyber ransom: It’s covered, for now (March 15, 2016), available with subscription at Advisen Cyber Front Page News.