Cyber Risk Insurance: Driving The Risk Management Process

Insurers and other insurance professionals have traditionally been well positioned to drive improvements in risk management processes. Cyber-security risk is a modern phenomenon which has arisen in the electronic information and internet age, and the insurance industry is demonstrating that it can play a key role both in educating and equipping public and private sector organisations to manage this emerging risk, and in providing insurance protection.

In Canada, as in other jurisdictions, a number of insurance professionals are leading the charge by providing a host of cyber risk-related services, including:

•  performing comprehensive analyses of the types of risk to which their clients are exposed;