Cyber is all about assurance and risk management
When we started CRIF last year, US based publications [insurance and infosec] asked how CRIF could help a North American cyber liability market that was already 7-8 yrs old.
I made the point that the US market is very much led by third-party policies [as defined in the UK] and that first / third party would predicate better risk management.
Here is a link to an article that follows on from this theme and if you have time to read it you may see there is a growing urgency for better risk management and realising the potential for residual risk to be transferred to cyber insurance.
Daljitt is Chairman of the Cyber Risk and Insurance Forum. You can contact him HERE!
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Companies in this year’s Poneman Institute 2013 Cost of Data Breach study shows UK companies reported that their data breaches were larger in scale and resulted in a higher rate of churn. Losses continued their rise this year by nearly 10%.