Risks associated with the pandemic have changed the risk profile of the world. While the disease and pandemics don’t make it into the top five risks of the 2021 Airmic survey, risk connectivity means that every risk in the Airmic top ten has been and continues to be touched by the pandemic and its systemic effect.

Cyber insurance is presenting cover and premium price increase challenges with many members submerged by requests for data to support cover submissions. On a more optimistic are we seeing some green shoots on insurance more generally with a softening of attitude towards some covers and brokers and insurers reaching out to rebuild client relationships?

Companies are moving to a risk-based cybersecurity stance. The approach recognises that not all assets are created equal, nor can they be equally protected in today’s all-encompassing digital environment. Some assets are extraordinary—of critical importance to a company and its business. The digital business model is, in fact, entirely dependent on trust. If a company’s customer interface is not secure, the risk can become existential. Safeguarding such assets is the heart of an effective strategy to protect against cyberthreats.

[Free to access upon setting up an account] Conrad Prince, Senior Cyber Terrorism Advisor to Pool Re, looks at the increasing threat of ransomware, what it means for business, and how it could be employed by malicious actors for strategic effect.