Post-COVID Price Increases, Potential Cyber Catastrophes: Read Recaps of “Hot Topic” CAS Seminar on Reinsurance Sessions
Miss out on attending the recent 2021 Virtual Seminar on Reinsurance? Get insight into three sessions that featured insurance “hot topics” as covered by Carrier Management in a series of stories:
‘Katy, Bar the Door’: More Risks Loom for Insurers Post-COVID
In this session, Conan Ward, president and general manager of RibiQon Risk and Insurance Services/RubiQon Re, highlights the systemic risks of a global pandemic within the insurance arena. Ward discussed inflation rates and highlighted major supply chain issues within the industry as the COVID-19 pandemic winds down.
Systemic Risk Analysis: Are Cyber Insurers Whistling Past the Graveyard?
This session, featuring Brad Gow, global cyber product leader for Sompo International and Annamaria Landaverde, senior vice president and cyber practice lead for the Reinsurance Division of Munich Re, US, provided insight on potential cyber catastrophes. In order to avoid breaches in cyber security, panelists recommended focusing on best practices for cybersecurity at client companies. In addition, they emphasized that there should be a focus on real-time underwriting and alerting clients to vulnerabilities when they exist.
Cyber Underwriting Changes: Is It Too Little, Too Late?
This session emphasized the necessity of real-time underwriters in the midst of cyber security crises within the industry. Currently cyber insurers and reinsurers are reacting to an rise in ransomware attacks against policyholders and prospects. Brad Gow, global cyber product leader for Sompo International, revealed just how far ahead threat attackers have moved in recent times.
For additional information on this year’s Virtual Seminar on Reinsurance, visit casact.org/reinsurance.