A public/private partnership similar to crop insurance or TRIPRA is needed to manage pandemic risk, said Paul Horgan, head of U.S. National Accounts, Zurich North America.
Meg Green, managing editor of Insider Engage, is a former daily newspaper journalist. She's covered the insurance industry since 1998, reporting for AM Best before joining the Insider Publishing Group in 2021.
The management liability market has been in flux in recent years, facing pressures including increased claims, social inflation and hardening rates, said Mark Paccione, Head of Commercial Management Solutions for AXIS Insurance.
Before insurers can choose to retain, reduce or transfer cyber risk on their balance sheet, they need to understand the complexity and interconnectivity of the cyber risk, said Lori Bailey, chief insurance officer, Corvus.
The rise of ransomware attacks has lead some underwriters to raise rates and pull back on capacity, said Catherine Mulligan, head of cyber for Aon Reinsurance Solutions, at the Joint Industry Forum in New York.
Taking single-minded steps to reduce the risk of ransomware attacks could open companies up to other vulnerabilities, said Chris Beck, a managing director with Milliman.
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