Cyber insurance trends 2021: What Australian and NZ businesses must consider
As we head into 2021 every sector and company, regardless of size, is heavily reliant on technology to facilitate its operations, communications, and engagements. In the current digital climate, cyber attacks pose a significant threat to businesses, which has resulted in cybersecurity steadily climbing up the C-suite’s priorities agenda.
We kicked off our Cyber Risk Masterclass series with our global cyber leaders looking at the cyber threat landscape, sharing the latest insights on global and Pacific cyber insurance trends going into 2021.
Key cyber insurance trends discussed –
- Cyber insurance claims trend activity and the impact that ransomware is having
- Insurance market update – How the market is reacting to the significant increase in claims activity in terms of coverage and pricing; and
- Silent Cyber Update – Insurers are now affirming or excluding cyber risks from non-cyber policies. Proposed exclusions may affect coverage, sometimes overreaching to exclude physical risks merely because technology was in the chain of causation
Our Marsh panelists included:
- Kelly Butler – Cyber Practice Leader, Pacific
- Thomas Reagan – Cyber Practice Leader, US
- Scott Leney – Head of Risk Management, Asia & Pacific
- Damian Schinck – Head of Risk Management, Australia
Watch the full replay below.
The information contained in this webinar is based on sources we believe reliable, but we do not guarantee its accuracy. This information provides only a general overview of subjects covered, is not intended to be taken as advice regarding any individual situation or as legal, tax, or accounting advice and should not be relied upon as such. Recipients of this webinar should consult their own insurance, legal, and other advisors regarding specific coverage and other issues.
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