Taking the Fear Out of Cyber
Cyber risk is everywhere. Embedded in the hardware of every computer system, in the cloud, in the headlines of national newspapers, and in the worries of risk managers across every sector.
It’s not a new risk, but its constantly evolving nature makes it tough for companies to stay up to speed on exposures, and to know how best to mitigate and transfer the risk.
“While the market for cyber coverage is maturing rapidly, it’s still less developed than other lines,” said Tim Marlin, Head of Cyber Underwriting, The Hartford.
“We hear a lot of clients say they want cyber coverage, but often they aren’t really sure what that means.”
“There’s no uniformity of cyber products on the market,” said Marlin. “That complicates conversations about exposures and cyber coverage.”
Oftentimes insureds may not understand the full extent of their exposure, so they don’t know what kind of coverage to ask for.
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