Navigating a Challenging Cyber Insurance Market
Snapshot
- 2022 has seen a sharp focus on cyber attacks with millions of data records breached in the region.
- As the fallout from major incidents continues, the market has come under more scrutiny.
- It is anticipated the Asia Pacific market will correct at a slower pace than global market stabilisation.
For organisations in Asia Pacific, the 2020-21 hardening market cycle was particularly acute, given the relatively favourable pricing, lower retentions, and relaxed underwriting approach.
However, 2022 has seen a sharp focus on cyber attacks with millions of data records breached in the region, which has raised scrutiny on the market as the fallout from the recent incidents continues.
As the global cyber insurance market stabilises, it is anticipated that there will be a similar correction in the Asia Pacific market, albeit occurring at a lagging pace.
In this webinar our expert panel provides a recap of the 2022 risk environment and shares insights on pricing data, key market movements and notable cyber loss trends in Asia Pacific, along with a discussion around expected conditions as we move into 2023.
Speakers include:
- Adam Peckman, Global Practice Leader of Cyber Risk Consulting, Head of Cyber Solutions, Asia-Pacific, Aon
- Michael Parrant, Cyber Insurance Practice Leader, Aon Australia
- Andrew Mahony, Cyber Insurance Practice Leader, Aon Asia
- Lee Sullivan, Chief Risk Officer, MinterEllison
Please view the session recording below.
Further insights on how organisations can navigate and manage risk in a dynamic and challenging cyber insurance marketplace can be found in our report: Errors & Omissions and Cyber Market Review – Midyear 2022.
