How cyber risk management can reduce friction between brokers and underwriters


As cyber risk has changed, so has the cyber insurance market. Attacks make newspaper headlines almost daily, particularly the growing number of ransomware attacks. As a result of the increase in both amount and the severity of attacks happening across the world (SonicWall Capture Labs recorded more than 495 million ransomware attacks globally in 2021—close to a 100 percent increase from 2020), the market is appearing to ‘harden’ and friction is occurring between the three stakeholders of the insurance value chain: insureds, brokers and underwriters. 

KYND, Cyber Risk, Technology, Cyber, Ransomware, Insurance, Reinsurance, Andy Thomas, UK

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