Non-criminal Claims/Non-Malicious Claims

Move Over Wind & Earthquakes, Here Come Cyber Cat Bonds

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Wind (including hurricanes) and earthquakes have long been the “peak perils” that keep insurance executives up at night and dominate the $54 billion market for cat (catastrophe) bonds to backstop insurance and resinsurance companies. But now cyber cat bonds are moving up in demand, in part because cyber risk is (in general) uncorrelated with natural … Read more

Are Non-Criminal Claims a Growing Risk for Cyber Insurance Providers?

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We recently told you how one cyber insurance expert predicts the massive CrowdStrike-caused IT outage may change the cyber insurance industry, including by boosting demand for coverage of non-malicious losses, or non-criminal claims, such as business interruptions cause by software failures. The recent NetDiligence Cyber Claims Study 2024 (see our summary of other findings here) … Read more

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