Cyber risks accumulating in the U.S. property market could cause $12 billion in non-physical damage losses, according to a new study by CyberCube, AM Best and Aon. The analysis also said a loss of that magnitude could result in some carriers' capital adequacy ratios deteriorating. The COVID-19 pandemic prompted commercial businesses globally to take a closer look at their enterprise-wide cyber vulnerabilities as in-office workers transitioned to remote work. Now, as companies implement permanent work-from-home or hybrid work models, businesses are again evaluating their systems to ensure they are prepared to defend against a cyberattack. Just in time for Cybersecurity Awareness Month, Embroker offers tips for employers with remote workforces to help keep their data and systems secure, featured in the slideshow above. However, the digital business insurance brokerage cautions that while the tips can help prevent breaches and hacks, all businesses should carry cyber insurance to help pay for recovery after an attack. Join @PC_360 on Oct. 26 at 11 am ET for the Twitter chat, "All treats, no tricks: Sweet advice for mitigating cyber threats," that will feature experts answering today's pressing cybersecurity questions. Related: |

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

Agency Management
Commercial Lines
Cybersecurity