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Wobbly lines: the market’s key trouble spots

This is from Australia, but the same crossover in terms of how cyber risk drives insurance can be seen across the planet…:

Cyber: The risk of cyber attacks is increasingly tied to liability risk for top executives, because companies may face reputational and brand damage from data breaches.

This is causing a growing tie-in between cyber insurance and directors’ and officers’ insurance (D&O), and clients are increasingly worried about the connection.

Exposure of network security, procedures or controls will have a serious impact on a company’s ability to maintain shareholder confidence, and business confidence may also be damaged, Gallagher says.

The trading suspension of listed real estate company LandMark White due to a data breach caused shares to drop to a four-year low, leaving it facing regulatory and shareholder risk.

“With data vulnerability an omnipresent threat and accountability shifting to board level, awareness of how cyber and D&O insurance can intersect is critically important.”

Original article here

Peter Glock
Over 30 years of designing, building and managing telecoms and IT services. Primarily working with large enterprise and professional services businesses in Asia, North America, continental Europe and the UK. Information security professional, secret physics nerd.

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