Catastrophic Cyber Risks - A Growing Concern

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 the video to find out!

All software applications can include bugs, which cyber criminals can exploit to gain access to an organization’s network. Many losses can be prevented by patching vulnerable software before cyber criminals have an opportunity to exploit it. Watch this video to see how three companies react when alerted of a critical software vulnerability – and the consequences when one fails to apply the available patch and is hacked.

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.

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.                                                                  

FAQ document for insurance brokers about Chubb's approach to insuring widespread cyber events. This approach will leverage concepts familiar to most brokers and clients who are experienced with property catastrophe insurance.