CyberCube has made public the intellectual process that shapes its cyber threat scenarios.
In a paper released today, the analytics provider offers an insight into its scenario development process as it creates new threat scenarios or refines existing ones. The scenarios allow re/insurers and brokers to analyse and stress test their portfolios of cyber risk.
Cyber is a very dynamic and fast-moving domain, with automation and digitalisation carrying growing cyber security risks. It is a major issue within the international insurance markets as risk carriers seek to identify and quantify cyber risk in both standalone cyber insurance products and individual classes of business such as property.
Darren Thomson, the firm's head of cyber security strategy, said: “The creation of risk scenarios is one of the most important and complex aspects of risk management in the insurance sector. It’s not a perfect means of testing an insurance portfolio but it’s a highly effective tool for insurers to deploy.”
Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.
Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories