Scor joins cyber insurance forum

With data breaches and cyber attacks appearing regularly in the news, including some very high-profile cases affecting millions of people, cyber risk has become a hot topic for insurers and reinsurers.

SCOR’s Zurich office recently hosted a Cyber Insurance Forum – “Are silent and non-affirmative cyber risks everywhere? – ” in conjunction with the Cyber Insurance Association. Non-affirmative or silent cyber coverages refer to exposures that are neither explicitly included nor excluded in insurance policies or reinsurance treaties – so their potential financial implications for the entire insurance industry are huge.

-The program included discussions on the problems and solutions surrounding non-affirmative & silent cyber exposure for direct and treaty P&C lines (casualty, financial lines, property), and a look at the potential contribution of the capital markets from the perspective of the Insurance Linked Securities (ILS) and Industry Loss Warranties (ILW) sectors.