March 9th, 2015

Cyber-attacks: Mounting Concerns

Posted at 1:00 AM ET

Here we review recent GC Capital Ideas stories on mounting concerns over cyber-attacks.

1. As Cyber-Attacks Escalate, So Does Demand for Cyber-Specific Insurance: From data breaches, to network business interruption to cyber extortion, the frequency and severity of cyber-attacks that have struck governments, utilities, individuals, medical and academic institutions and companies of all sizes are on the rise.

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2. Cyber-attacks and Terrorism Revealed as Top Emerging Risks for 2015, According to Annual Guy Carpenter Survey: Cyber-attacks and terrorism are ranked among the top emerging risks concerning the (re)insurance industry in the year ahead, according to a survey released today by Guy Carpenter. According to the findings, new products, expansion into new geographic markets and access to new distribution channels will be the primary drivers of profitable growth in 2015.

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3. Cyber-Related Risk to Critical Infrastructure: The table shows the sectors identified as critical by both the US government in the recent Presidential Policy Directive 21, and by the European Commission, as stated in the proposal, Directive on European Critical Infrastructure.

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