New cyber risks. A new type of attack is credential-stuffing, where hackers take a stolen user name and password and run it through different sites to see if they can access information from other sources. (Photo: Shutterstock)

The cybersecurity landscape isn’t necessarily getting worse, but it is definitely changing. Ten years ago, insurers highlighted hypothetical scenarios to generate coverage options for policyholders, explains Graeme Newman, chief innovation officer at London-based CFC Underwriting. Five years ago, there were significant retail breaches and credit card security improved with point-to-point and end-to-end encryption. Now there are more data breaches and cyber hacks.

“The propensity for claims has more than doubled in the last two years,” says Newman. “Are they becoming more prevalent or are clients more aware that it’s an issue? It’s a combination of both. We’re seeing more incidents and they are easier to commit than ever before.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?

Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

More from this author



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.