This post is also available in: Français (French)
Tara Hillfram, of Marsh was a speaker during Insurance Claims Management Conference in Prague in January 2020. She gave some very interesting elements around cyber claims. Here are some things to remember.
Some figures about cyber insurance
- According to Marsh, market penetration in cyber insurance increased from 19% in 2014 to 38% in 2019. No details on the perimeters, however, we can legitimately doubt such a rate which seems very high to me.
- The motivations of hackers are diverse, but the two main reasons are extortion (43% of cases) and data theft (34%)
- It takes 1 week for a return to normal after a simple attack (ransomware type), 3.5 weeks if your IS is significantly affected, and more than 6 weeks for a complete and healthy recovery.
- Financial institutions account for 23% of attacks, compared to 9% for industry on a par with communications and media companies
Full presentation of Tara Hillfram is here:
|0 downloads||2020||adm_jinnbee||18-02-2020 14:28|
To go further
Cyber insurance is booming, but it is often more relevant to protect yourself upstream. If you want to assess your exposure to cyber risk, feel free to test your exposure here!
You will also have details on how to protect yourself (to reduce the risk of attack) or adequately insure yourself (to compensate for any damage suffered), thanks to our partners OZON and Swiss Re Corporate Solutions, which offer the only complete offer (protection + insurance) in Europe!