How to clear the fog of cyber war and terrorism insurance

10-08-2020

How to clear the fog of cyber war and terrorism insurance

Digital attacks are on the rise and a number of nation states are in the frame. The global insurance industry needs to come together to find an international solution but the task is mired in complexity and differences in definition. Intelligent Insurer finds out what one global insurance taskforce is doing to bring clarity to the discussion.

“We’re looking at it holistically from the standpoint of the insurance industry.” Rachel Anne Carter cyber director at The Geneva Association. 

· Whole industry approach needed to tackle global fog of cyber war and terrorism insurance
· Development of an industry wide “common language” will aid cyber insurability 
· Taskforce creates new term to begin filling the gap between definitions
· Work towards a potential international solution taking a “holistic” view

 

The joint global insurance taskforce, set up by the International Forum of Terrorism Risk Re/insurance Pools and The Geneva Association last year, is working to defog the discussion around cyber’s grey area.


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