Masterclass on Cyber Risk and Insurance
The European cyber insurance market is one characterised by many gaps in protection. As found by AMRAE in Project Lucy, significant losses in 2020 led insurers to tighten their underwriting conditions for cyber risks. Premiums skyrocketed, capacity shrank and high deductibles have come in. Against a backdrop of a hard market and an increasing dependence (& vulnerability) on digital services, this is a troubling nexus.
At EU-level ENISA, the European Cybersecurity agency is looking into cyber insurance coverage of operators of essential services. EIOPA is looking into exclusions in contracts, as well as the cyber insurance protection gap. The topic of cyber insurance is making its way up to political-level discussions.
Key educational messages
This Masterclass will bring together a wide range of insightful experts on cyber insurance. It will provide a great opportunity to learn about different approaches to the issue.