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.
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.
This KBRA report is a follow-up to a research publication on KBRA’s general approach to incorporating environmental, social, and governance (ESG) factors in KBRA’s credit rating process across corporate, financial, and government (CFG) ratings, which we describe as ESG Management. While our previous publication provided a broad overview of KBRA’s ESG Management approach, this report focuses on the potential influence of ESG topics on KBRA’s analysis of corporate ratings. It is important to note that this research is not methodology. KBRA’s cross-sector ESG methodology can be found here.
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.
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