Cyber

Data security is no longer a simple IT task and can't be solved with one tool. It's a strategic imperative that touches every level of an organization.

The escalating cost of cyber claims will force insurance companies to reevaluate their offerings and focus much more on prevention.

The new battlefront is hackers exploiting human vulnerabilities, not systems or software. Coverage needs to adapt. 

There is one common thread: Organizations must understand where data is located, the context of the data and if it is at risk.

Pressure from threat actors will increase, but innovations will provide tailored coverage options and services to curtail threats. 

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

In this month's ITL Focus, Scott Sayce, Global Head of Cyber at Allianz Commercial, discusses key cybersecurity trends in 2024 with Paul Carroll.

Cyber underwriters face a myriad of risks, emerging trends and formidable challenges in crafting robust policies.