The Evolving Role of Reinsurance in a World Fraught with Cyber Risks
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The Evolving Role of Reinsurance in a World Fraught with Cyber Risks
Commercial insurance has traditionally protected businesses from a wide range of unexpected circumstances. These circumstances underwent significant change during the pandemic, with the move to remote work and plans for business continuity. But these are not the only coverages affected by the pandemic. Cyber security threats have also spiraled.
As cyber security incidents continue to rise, insurers need to better understand which risks they are writing and the level of exposure they are taking on. They need to better assess their exposure, understand the risk, and engage in reinsurance strategies to protect themselves.
