Cyber war, cyber catastrophe, systemic cyber risk and other terms have become more widespread as cyber threats increase, but panellists at the 2023 PLUS Cyber Symposium in New York City last month warned insurers that ambiguous terminology can slow valuable response time. They discussed why insurers shouldn’t get ahead of themselves on policy wordings before figuring out how to define cyber threats in the first place and urged the industry not to “over define” the risk.
Useful article with commentary from panellists. 5min read.
This is a short 1.5min read, but there is much to be learned from it. What three facts can you learn from it and what value will a “cyber lexicon” offer. Give two points of value, one as stipulated by the article and another which is less obvious, not mentioned, but really useful. Read next week’s newsletter to check your answers.