Cyberattacks: The Uninsurable Threat
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Topic: The Future of Cyber Insurance: Uninsurable Risks
In this episode, we discuss a critical concern for business owners and the evolving landscape of cyber insurance. Key points include:
- Will Cyber Insurance Be Available in the Future?
- Insights from Zurich Insurance's CEO, who suggests cyber attacks could become "uninsurable."
- The comparison of cyber risks to exclusions like war and nuclear events in commercial liability policies.
- What Does "Uninsurable" Mean?
- The focus on large-scale, catastrophic, worldwide events rather than specific attacks on individual businesses.
- The Challenges for Insurance Companies:
- Difficulty in quantifying the scope and scale of losses from cyber attacks.
- Potential limitations in coverage for cyber risks compared to traditional policies.
Discover the implications of these developments and what they could mean for your business in an increasingly connected world.
