From news stories to webinars to presentations and discussions at trade shows, it's been nearly impossible over the past year to avoid the topic of cyber risk. The threat is not new, and insurance addressing the risk has been around for about 15 years now—but only recently has the issue become so top-of-mind for so many.
Before the 2014 RIMS Annual Conference and Exhibition, PC360 asked four risk managers that sit on National Underwriter's Editorial Advisory Board what is the most significant emerging risk on their radars. Nearly all of them mentioned cyber risk. And that was just a preview to the mood at the RIMS conference, where cyber was a hot topic among both buyers and sellers of insurance.
For example, Chubb Corp. released its 2014 Multinational Risk Survey at RIMS, which questioned 300 U.S. and Canadian companies about their international global exposures, and data breach/cyber was the second-biggest threat cited by respondents after supply-chain failure.
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