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.
Risk managers are being forced to reconsider how they protect company data and proprietary information because of cyber threats and security and privacy breaches , according to a recent survey from Towers Watson
Daljitt is Chairman of the Cyber Risk and Insurance Forum. You can contact him HERE!
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Interesting Video clip covering the consequences and fallout from the Sony Hack as featured on FortuneLive.
Robert Herjavec makes it clear that the cost and impact goes far beyond Sony and signposts the way to both major change in markets, particularly insurance. He predicts board level and government focus sharpening and that the frequency and severity is getting worse and worse.