Article September 22, 2021

IB Cyber Report America: Ransomware still stinging

Find out what CFC's Shannon Groeber had to say about the proliferation of ransomware and other pressing cyber insurance issues in the special report issued by Insurance Business America.

As the scale and frequency of cyber insurance losses to soar, ransomware continues to be at the forefront of the issues facing the cyber community. On top of that, a continuing hardening market is challenging brokers to work harder to secure adequate cover for their clients, as well as having to continually educate themselves and develop technical skills around cyber security controls.

From this, the importance of enhancing risk management services are emerging as the prevention at the top of the hill, rather than claims ambulance at the bottom. Our very own Shannon Groeber agrees “companies of all sizes benefit form a layered and dynamic approach to cyber risk management that incorporates tools, products and services. From a proactive perspective [these] tools are foundational and put companies in a better position to define and minimise threats.”

From a proactive perspective, these tools are foundational and put companies in a better position to define and minimise threats Shannon Groeber, Executive Vice President

So, what else can cyber insurance providers and brokers do to help their clients understand their sector's vulnerabilities? What cyber trends and threats do brokers need to be on top of this year? What key points should brokers stress when speaking to a client about these cyber threats?

For the answers to these questions and more – and for other great insights from Groeber and others – download The Insurance Business 2021 Cyber Insights report today.