Reinsurer Interest in Cyber Products

100 members of the Reinsurance Association of America were in the audience in New York City for the RAA’s Current Issues: Cyber Liability program May 21st.  I think the heavy attendance was indicative of a growing interest in the product by reinsurers, especially since this was a members-only event.

I was joined in the opening session on The Cyber-Liability Landscape by Stephen Serfass, partner with Drinker Biddle.  My comments were focused on the evolving product, what I worry about, and product opportunities.  Steve spoke about the risk landscape.

Other speakers were Mike Brown of Guy Carpenter on reinsurer involvement, Beth Diamond of Beazley on breach and claims activity, and Larry Greengrass of Mound Cotton on claims and traditional policies.

The afternoon session provided insight into state and federal legislation, and was addressed by Robert Gordon of PCIAA and Steve Serfass.

I think the heavy attendance and the level of knowledge and interest expressed by the audience speaks volumes about the growth in importance of this fascinating product.

AM Best interviewed the speakers after their sessions; the videos are  here and were conducted by Meg Green.  Apologies for the very brief ad that precedes the interview.

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