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.
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!
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.
Download the paper
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.
Download the factsheet
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.”
Watch the webinar
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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Disclaimer - The content of the above article is not intended to constitute professional advice. Although all content is believed to be accurate, Chubb Insurance Singapore Limited (Chubb) makes no warranty or guarantee about the accuracy, completeness, or adequacy of the content of this article. Users relying on any content do so at their own risk.
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