Cybersecurity

In Europe, the Middle East, and Africa the EMEA region cyberinsurance is slow to catch on, according to Aon Risk Solutions 2017 EMEA Cyber Risk Transfer Comparison Report.

In May 2018, the European Union will implement the new General Data Protection Regulation (GDPR), and companies are making major policy changes to prepare for its installment.

In the U.S., more than 28 million small businesses and their 56 million employees are increasingly vulnerable.

Berkshire is likely to report big claims costs during the third quarter at its insurance subsidiaries because of natural disasters including Hurricanes Harvey and Irma.

Claims professionals must be aware of the developing exposures and insurance products associated with cyber risks.

InsurTech startups and their partners should engage with regulators early and often. Brokers also need to be aware of the law as it relates to InsurTech.