Bruce McConnell Talks NotPetya and Systemic Cyber Risk
EWI Executive Vice President Bruce McConnell appeared on The Security Ledger podcast to discuss how insurers are responding to systemic cyber risk as a result of the NotPetya malware outbreak in 2017.
"The exposure that insurance companies are figuring out is something called "silent cyber"—where cyber is included in a general policy because it's not listed as an exclusion," says McConnell. "This is where people are starting to realize that they should eliminate this vague, grey area in cyber and write the policies explicitly."
Click here to listen to the full podcast.
Click here to read EWI's report Cyber Insurance and Systemic Market Risk, which provides a framework to better understand and address the systemic nature of cyber risk and the challenges it presents to the burgeoning cyber insurance industry.