Stay informed on emerging issues and trends in the insurance industry.
Cyber events don’t always just result in financial loss but can also cause first or third-party bodily injury or physical damage. In response, many insurers have adopted various exclusions, sub-limits and changes to non-cyber insurance policies. This issue of non-affirmative coverage for cyber events is known as silent cyber. Through various claim scenarios across coverage lines and industries, this article explores the wide range of insureds that are at risk of a silent cyber incident.
Social inflation is an issue that continues to gain intensity. The term describes the convergence of societal and legal trends resulting in increased litigation and larger jury awards. As these cases are tipping in the plaintiff’s favor, social inflation is adversely impacting insurance capacity and increasing pricing. This article explores the issues driving social inflation, mitigation strategies and what the future holds for impacted sectors.