Last week I had the chance to chat with Colleen McCarthy of WillisTV about trends in the cyber marketplace. To sum up, things are busy in the world of cyber insurance. Lots of claims are coming in and lots of markets are selling cyber products, products that are looking at all key cyber risks, including regulatory fees and penalties, which have been rising on the priority list for many risk managers.
We also talked about the soon-to-be-released Willis report on the public company response to SEC guidelines about disclosing cyber risk. There are several conclusions to be drawn from our review of public company filings since the guidelines were published, but in short, companies are taking the guidelines very seriously. They are well aware that cyber exposures are some of the most serious—and most quickly evolving—risks they face.
Here’s the WillisTV video.