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August 2015 Cyber Risk legal update
Cyber Insurance, Privacy and Data Security Newsletter
CRIF is providing useful information and articles covering Cyber Risk & Insurance. This article comes from our Underwriting Committee
This article looks at the issues that need bearing in mind when underwriting and we hope it will provide some insight into how cyber insurance risks are underwritten and what good underwriters look for when analysing submissions.
ACE Group today announced the launch of a new, independent cyber risk business unit as it continues to strengthen its local underwriting and risk management capabilities across Continental Europe and build its market leadership in this growing area of emerging risk.
The announcement follows research by ACE which indicates that cyber is a “top three” emerging issue for European risk managers and represents a further evolution of the work of ACE’s global cyber practice, first established in 2014.
Companies of all sizes have recognised the tremendous opportunity the Internet presents for conducting business. But great reward also comes with great risk.
Cyber Risk has now emerged as a high-profile problem; so much so, it has been escalated to third position on the corporate boards risk register.
In the 21st century everyone needs to take cyber risk seriously.