Here we showcase the recent stories that GC Capital Ideas has presented on cyber risks. Particular topics of focus include silent cyber and the intersection of COVID-19 and cyber risk.
Silent Cyber – No Longer Silent: Silent (or non-affirmative) cyber refers to cyber-related exposure within many all-risk general insurance products. If no explicit cyber exclusion applies, coverage for losses caused by cyber perils may apply. This underlying exposure’s potential for aggregated loss is currently one of the major issues being considered by the (re)insurance industry, according to Siobhan O’Brien, International Cyber Center of Excellence Leader, Guy Carpenter, and Erica Davis, North America Cyber Center of Excellence Leader, Guy Carpenter.
Pandemic Poses a New Catastrophe Paradigm – Part III: Cyber Catastrophe Potential: Rapid technological changes, digitalization in particular, have already transformed the characteristics of risks assumed by the (re)insurance market. COVID-19 will only accelerate these trends. Cyber is a working example of how the risk transfer sector is capable of responding to transformative developments, and it provides a glimpse into the growth potential on offer as new risk pools emerge, according to Peter Hearn, President and CEO of Guy Carpenter.
Webinar – Managing Cyber Risk in Life Sciences Technology: Life sciences and technology companies are increasingly aligning to pursue advances in life science technology that enhance the quality, speed and sophistication of patient care. However, these advances also introduce new cybersecurity risks and regulatory oversight that must be managed. On a recent webcast, Guy Carpenter-affiliate Marsh and leading policy, cybersecurity and legal authorities discussed how manufacturers, providers and other health care ecosystem stakeholders can manage these complex cybersecurity and regulatory issues – and protect themselves from potential liabilities.