TIME TO DUCK AND COVER AS CYBER THREATS LOOM

TIME TO DUCK AND COVER AS CYBER THREATS LOOM

When I lived in New York in the 1990s, my apartment building had a fallout shelter in the basement. The old shelter sprang to mind last week when rating agency A.M. Best Co. Inc. released a study that estimated the probable maximum loss for insurers from cyber security risk globally is about $31 bil...

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Veröffentlicht in:Business Insurance 2015-12, Vol.49 (25), p.14
1. Verfasser: Souter, Gavin
Format: Artikel
Sprache:eng
Schlagworte:
Analysis
Business insurance
Cybersecurity
Cyberterrorism
Data security
Hackers
Insured losses
Laws, regulations and rules
Risk management
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Zusammenfassung:When I lived in New York in the 1990s, my apartment building had a fallout shelter in the basement. The old shelter sprang to mind last week when rating agency A.M. Best Co. Inc. released a study that estimated the probable maximum loss for insurers from cyber security risk globally is about $31 billion, which is nearly seven times the PML for a nuclear loss, according to the report. That's staggering and troubling.
ISSN:0007-6864
1557-7791