Insurers Launch Program To Tackle 'Silent' Cyberrisk

Law360, London (September 2, 2019, 2:49 PM BST) -- Insurer Swiss Re and a British specialist reinsurance broker launched a new program on Monday to help underwriters and brokers assess cyberrisk and avoid the risk of inadvertently offering cover.

The platform, called Decrypt, seeks to set a standard for assessing cyberrisk in the industry by providing a unified method that companies can use to calculate their level of exposure to cybercrime.

"Decrypt is the first holistic cyber-solution that helps insurers identify and manage their cyberrisk exposures as well as meet growing regulatory and internal requirements,” Maya Bundt, head of cyber and digital solutions at Swiss Re, said.

The online program's methodology...

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