Cyber continues to be insurers’ great hope for growth. However, due to numerous claims, many insurers are acting cautiously and continue to offer only limited capacities. New captive start-ups have brought movement to the market here, as has the entry of new providers.
However, the constantly changing threat landscape remains a challenge. With the increasing use of AI by cybercriminals, new dimensions of risk are to be expected; politically motivated cyberattacks are likely to increase further due to geopolitical tensions. Ransomware attacks continue to top the list of loss events. And coverage for systemic risks such as infrastructure and energy will only be possible in the future, if at all, with the inclusion of state-backed rescue solutions. So, what’s next for cyber insurance?
Our Cyber Insurance partner Paul Malek will speak on “Current coverage issues and trends in cyber claims management” and Data Privacy partner Jan Spittka on “Data protection liability after cyber attacks – is a wave of lawsuits looming?”.