What’s the Price of Reputational Damage for a Company Hit By a Major Breach? Beazley Cyber Exec Says Insurers May Find Out This Year 

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“(Beazley Head of Cyber Services Raf Sanchez) explained that this is because many incidents are notifiable not just to regulators but often must be disclosed to clients (who have inserted mandatory notification obligations into supply contracts).

He also said that Beazley expects an increase in D&O claims linked to cyber-attacks in the coming year and also expect an increase in third-party litigation arising out of cyber events.”

Source: Cyber landscape to increase in 2022: Beazley’s Raf Sanchez – Reinsurance News

Mark Sauter

Mark Sauter’s insights on the financial, policy and security elements of cyber insurance are based on years of experience in the investment banking, media and business worlds. Co-author of the McGraw Hill university textbook “Homeland Security: a Complete Guide,” Sauter was also a consultant to one of the world’s largest software companies and served as a US Army Special Forces and infantry officer.

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