Catastrophic Cyber Risks - A Growing Concern
Catastrophic Cyber Risks – A Growing Concern
Catastrophic Cyber Risks – A Growing Concern
As the world digitises, the frequency, severity, and sophistication of cyber incidents are increasing along with the dependency on technology.
Cyber criminals have already demonstrated their ability to disrupt supply chains for businesses around the world and cripple critical infrastructure. Meanwhile, the steadily increasing adoption of cyber insurance means that more companies have protection, but also that cyber risk aggregation is expanding for the insurance industry.
PRODUCTS & SERVICES
Widespread Events: A Sustainable Approach to Insuring Systemic Cyber Risks
To help ensure market stability and provide coverage clarity for our policyholders, Chubb uses two categories to gauge the impact of a cyber event: Limited Impact Events and Widespread Events. But what does this mean for cyber policyholders? Watch the video to find out!
Many Losses Can Be Prevented by Timely Software Patching
All software applications can include bugs, which cyber criminals can exploit to gain access to an organization’s network. Many losses can be prevented by patching vulnerable software before cyber criminals have an opportunity to exploit it. Watch this video to see how three companies react when alerted of a critical software vulnerability – and the consequences when one fails to apply the available patch and is hacked.
RESOURCES
Cyber services: bridging the gap between insurance and expertise
Cyber ERM: a sustainable approach to insuring a broad array of cyber events
A new approach to address growing cyber risks
Chubb has introduced a flexible and sustainable approach to address growing cyber risks. Learn more about Chubb’s new endorsements for Widespread Events, Neglected Software Vulnerabilities, and Ransomware Encounters.
Cyber systemic risk broker FAQs:
FAQ document for insurance brokers about Chubb's approach to insuring widespread cyber events. This approach will leverage concepts familiar to most brokers and clients who are experienced with property catastrophe insurance.
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