June 15th, 2018

Week’s Top Stories: June 9 - 15, 2018

Posted at 10:00 AM ET

Standalone Terrorism Insurance Remains Competitive: Unlike coverage under the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is normally made available within annual “all-risk” property policies, a standalone property terrorism insurance policy does not require the government to certify an act of terrorism in order for a claim to be paid.

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A Heightened Focus on Cyber Response and Recovery: Over a third of directors of U.S. public companies now discuss cybersecurity at every board meeting. Cyber risks are being driven onto the agenda by high-profile data breaches, distributed denial of services (DDoS) attacks and rising ransomware and cyber extortion attacks. The concern about cyber risks is justified. The annual economic cost of cyber-crime is estimated at USD 1.5 trillion and only about 15 percent of that loss is currently covered by insurance.

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Threat Trends on Major Cyber Attacks in 2017: The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

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Getting Practical with Emerging Risks: Widespread political volatility and rapid technological advances are spurring companies to question not just their resilience, but also their fitness for purpose in the new world order. Yet, many companies are unsure what practical steps they should be taking with regard to major strategic uncertainties and potential shocks.

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Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

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And, you may have missed…

Guy Carpenter Licenses First-of-its-Kind Cyber Risk Modeling Platform from CyberCube Following Strategic Alliance: Guy Carpenter today announced that its two year strategic relationship with CyberCube Analytics, formerly part of Symantec Corporation, has produced the industry’s first cyber risk modeling platform with an inside-out view of cyber risk exposure.

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