Snapshot
- Ransomware is currently the most burning issue in cyber insurance. An escalation in frequency, sophistication and severity of attacks can be seen across all industries.
- As organisations move to address growing cyber concerns, insurance conversations are becoming more risk-based than product or price-based.
- Insurers are seeking deeper understanding of an organisation’s cyber risk exposures and quantification metrics are becoming far more sophisticated and heavily focused on controls.
In episode three of Aon’s Cyber Pulse podcast series, Aon’s Cyber Insurance Practice Leader, Michael Parrant and Managing Principal, Risk Management, Joerg Schmitz discuss the importance and benefits of risk quantification when it comes to cyber insurance.
Listen now as our experts share insights on the changing nature of insurer behaviour around quantification metrics as they seek to more deeply understand an organisation’s cyber risk exposures and what controls are in place, which in turn influences an insurer’s position around premium, coverage and retention.
Our experts also discuss how quantitative models can help answer questions organisations have around potential impacts and financial consequences, beyond the information insurers now look for in offering capacity. Quantification enables discussion around how controls can be improved and how they influence the likelihood of risks, which provides great insight for further investment into risk management, beyond insurance spend.
Tune in for the latest insights below.
