Single coordinated cyberattack could cause $40bn insured losses, hammer global reinsurance surplus and hit captives

The growing focus of insurers and reinsurers on the potentially catastrophic impact of so-called silent cyber cover held within traditional policies is fully justified, because a single coordinated cyberattack could significantly reduce the surplus capital base of the world’s leading reinsurers and may massively reduce risk appetite, according to experts. Peter Hacker, cybersecurity expert and public speaker with experience of…

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