Cyber Business Interruption Remains Area of Uncertainty for Insurance
Jun 13, 2018
Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the newly growing area of non-physical threats?
Panelists at the 2018 PLUS Cyber Symposium, held in May in Chicago, Ill., discussed how the cyber-related business interruption space differs from traditional, property-related business interruption.
“We’ve got a lot of weather experience from hundreds of years of tracking that. The insurance industry knows where the wind is going to blow, so from an individual risk standpoint and from a risk aggregation standpoint, insurance companies can manage that,” said panelist Jason Glasgow, vice president in the E&O division at Allied World. “Nobody knows where the cyber winds are going to blow.”