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As the world digitises, the frequency, severity, and sophistication of cyber incidents are increasing along with the dependency on technology.

Cyber criminals have already demonstrated their ability to disrupt supply chains for businesses around the world and cripple critical infrastructure. Meanwhile, the steadily increasing adoption of cyber insurance means that more companies have protection, but also that cyber risk aggregation is expanding for the insurance industry.

Explaining Widespread Events in Cyber

To help ensure market stability and provide coverage clarity for our policyholders, Chubb uses two categories to gauge the impact of a cyber event: Limited Impact Events and Widespread Events. But what does this mean for cyber policyholders? Watch Widespread Events: A Sustainable Approach to Insuring Systemic Cyber Risks to find out!

catastrophic cyber risks - a growing concern report cover

Catastrophic Cyber Risks - A Growing Concern

Chubb’s whitepaper examines several types of cyber events that, particularly in combination, have the potential to be catastrophic. The paper also explores an alternative approach for cyber insurance — one that will enable the cyber insurance industry to continue to provide innovative solutions for policyholders while still ensuring the long-term sustainability of the market.

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A New Approach to Address Growing Cyber Risks

Chubb has introduced a flexible and sustainable approach to address growing cyber risks. Learn more about Chubb’s new endorsements for Widespread Events, Neglected Software Vulnerabilities, and Ransomware Encounters.                                                                  

Cyber Services: Bridging the Gap Between Insurance and Expertise

Chubb’s recently expanded offerings include solutions to help policyholders identify and address cyber risks before an incident occurs, manage software and network vulnerabilities, stop malicious activity from entering and spreading through a network, and educate their workforce to serve as a first line of defence. 

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Chubb Helps Policyholders Tailor Cyber Insurance Coverage

Learn about Chubb’s new Widespread Event endorsement — watch a recording of the 11/16/21 webinar, "Widespread Cyber Events Coverage Explained: A Flexible and Sustainable Approach to Address a Growing Risk.”

© 2021 Chubb. All rights reserved.

No part of this article may be reproduced in any written, electronic, recording, or printed form without written permission of Chubb.

Disclaimer - The contents of this report are for illustrative purposes only and not intended to be an offer or solicitation of insurance products. You should read the policy documents to determine whether any of the insurance products discussed are right for you or your business, noting different limits, exclusions, terms and conditions apply in each country or territory, and not all cover is available in all countries or territories. This document should not be relied on for legal advice or policy coverage and cannot be viewed as a substitute to obtaining proper legal or other professional advice, or for reading the policy documents.


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