AIG asks 'Is Cyber Risk Systemic?' in new report
In December 2016, AIG surveyed cyber security and risk experts to gain a deeper understanding of their views of the likelihood and impact of a systemic cyber-attack.
While the question, Is cyber risk systemic?, is simple in form, we believe that the details are highly nuanced. Can a single attack affect tens, hundreds, or even thousands of institutions at the same time? Is the event size inversely proportional to the likelihood that it will occur? Are certain industries more exposed to systemic risk than others? These questions and more frame the research presented in this paper. The data may be useful for sizing up systemic cyber risk and preparing for systemic attacks, important topics for all companies living in the cyber security ecosystem. Moreover, for cyber insurers, answers to these questions are essential for proper modeling and management of accumulation risk.
To download the full Is Cyber Risk Systemic report from AIG, click the link below….
In the UK, AIG Europe Limited is one of the largest insurance companies specialising in the UK business insurance market. With offices throughout the country, AIG insures many of the UK’s top businesses, thousands of mid sized and smaller companies, as well as millions of individuals. Over the past 60 years, AIG has established an enviable reputation for developing innovative insurance products that keep in step with new trends and directions in business. Today, AIG has one of the widest product ranges in the market. youTalk-insurance sharing AIG insurance news and video.
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