Here we showcase the recent stories that GC Capital Ideas has presented on cyber risks. Particular topics of focus include silent cyber exposure and what is driving cyber (re)insurance sales.
What is Driving Cyber (Re)insurance Sales: Guy Carpenter recently published its Cyber Year in Brief and 2020 Outlook, which investigates what is driving cyber insurance sales on both the direct and reinsurance sides.
Silent Cyber: Solutions Emerge Amid the Uncertainties: Silent cyber, also known as unintended or non-affirmative coverage, refers to the potential cyber exposures contained within traditional property and casualty insurance policies, which may not implicitly include or exclude cyber risks. In many cases, traditional policies will not specifically refer to cyber, or the language remains untested to the exposure, and could theoretically pay claims for cyber losses in certain circumstances, according to Erica Davis, Cyber Center of Excellence, Guy Carpenter.
Looking Beyond the Clouds – A Cyber Insurance Industry Catastrophe Loss Study: Because it is essential to develop a deep understanding of the characteristics of cyber catastrophe events and the financial impact they could have on the standalone cyber insurance market as it exists today, CyberCube Analytics and Guy Carpenter have collaborated to help (re)insurers quantify cyber risk by pooling data resources and analytics capabilities to cultivate a view of the potential U.S. cyber industry loss from a range of different cyber catastrophe scenarios.