The cyber risk space is constantly evolving, and the ongoing pandemic situation has only exacerbated technology-related concerns for many companies. Looking toward the remainder of 2020 and beyond, Guy Carpenter sees a number of emerging trends that present both potential challenges and opportunities for our clients, particularly as they relate to COVID-19. See below for recent GC Capital Ideas content on the intersection of cyber and pandemic risk.
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.
Why 2020 Has Made the Ever-Evolving Cyber Landscape Even More Dynamic: COVID-19 has only accelerated the trajectory of the cyber exposure landscape. As companies adapted to increased working from home circumstances, changing demand for their products and interrupted supply chains, they adapted their business models and utilized new technologies. This new normal has resulted in increased potential for cyber risk events.
Webinar – Cyber Risk in the COVID-19 Pandemic: Looking toward the remainder of 2020, Guy Carpenter sees a number of emerging trends that present both potential challenges and opportunities for our clients, particularly as they relate to COVID-19. This Marsh & McLennan webinar, hosted by Siobhan O’Brien, Head of Guy Carpenter’s International Cyber Center of Excellence, delves into how to manage through the immediate crisis, how to evaluate cyber risk and cyber risk transfer options and the possible longer-term impacts on the cyber threat landscape through the transformation of businesses.