QBE Asia’s Post

Many people may laugh now about having an easy day off last Friday due to the Crowdstrike outage, but its impact to businesses is definitely not a joke. According to a CNN article, the cost from the global outage could top USD 1 billion as it affects over 8.5 million devices around the world. Prior to the outage incident, many business operators may not be fully aware of their cyber exposure, and how important the role a cyber insurance policy can play in their overall risk management process. Cyber insurance specialists are dedicated to provide technical assistance and guidance to minimize its impact for its client. Therefore, it is always important review your current cyber insurance and relevant policies, and if you find yourself in need of one, look no further than QBE latest offering: QCyberProtect – a comprehensive and globally consistent cyber policy designed to enhance cyber resilience for a broad range of clients worldwide. QCyberProtect provides tailored coverage for losses arising from current and emerging cyber risks, including, but not limited to, network security, privacy liability, IT and non-IT business interruptions and reputational loss. #QBE #QCyberProtect #CrowdstrikeOutage Lei Yu (于蕾) Kelvin Woo Cynthia Huang QBE Asia QBE Hongkong & Shanghai Insurance Ltd

All signs point to the softened cyber market coming to an end shortly with an uptick in the frequency of cyber breaches. Be prepared for incidents with a copy of our Response & Recovery playbook below.

AM Best highlights the growing importance of cyber insurance in the property and casualty industry due to increasing cyber threats and regulatory shifts. Insurers must prioritize robust risk management, including underwriting, pricing, and reinsurance strategies, to tackle cyber risks effectively. Investing in cybersecurity measures is crucial for mitigating losses and ensuring financial stability. Let's discuss how we can navigate this cyber landscape together! #CyberInsurance #RiskManagement #AMBestInsights #StayProtected #Reinsurance

Is your business fully prepared to manage a cyberattack? Developed with leading global consultancy J.S. Held LLC, our Cyber Business Interruption Playbook here: https://lnkd.in/gXWdB6jW is your go-to guide for navigating post-attack recovery. It covers risk assessment, insurance, incident response, and recovery planning—everything you need to remain resilient.

For most businesses, technology is the key to efficiency. But it does not come without risks. Is your business prepared to manage a cyberattack? ⬇️ Download our Cyber Business Interruption Playbook, and learn how to take a proactive approach to cyber business interruption. #cyberattack #cyber #cybersecurity #risk #technology #insurance #coverage #incidentresponse #riskassessment

Business Interruption insurance is the least understood of the coverages found in most standard cyber insurance forms. Carriers use different language and the scope of coverage varies. This playbook is a good starting point to understand the coverage and how a business can prepare before a significant cyber event happens. Plan ahead, understand your coverage and be ready if you need to file a claim.

Thank you FortMesa and the team for working with us to deliver a fantastic outcome for this insurance client. We are delighted to see the case study published to a wider audience. Infoprotect's unique risk profiling system opens doors to cyber insurance for businesses previously considered uninsurable. Infoprotect simplifies the process from risk assessment to placement, providing an accurate risk profile to the client, broker and insurer resulting in competitive premiums and comprehensive coverage. All parties involved benefit from improved cybersecurity posture, a clearer view of where claims will come from, reduced exposure to cyber losses and removing reliance on the customers understanding of what is being asked of them. Insurers can collect consistent data, offer competitive premiums, reduce losses from cyber claims, and develop risk-based pricing models with Infoprotect's expertise. Contact Brad Fraser for more information. #cyberinsurance #cyber #cybersecurity #insurance #insurer #cyberunderwriter #casestudy

I was delighted to help Brad Fraser and the team at FortMesa bring this case study to a wider audience. Infoprotect's unique risk profiling system opens doors to cyber insurance for businesses who have previously struggled to obtain cover or who need help assessing their cyber position. Infoprotect simplifies the process from risk assessment to placement, providing an accurate risk profile to the client, broker and insurer. For our most recent cast study this resulted in competitive premiums and comprehensive coverage which was previously unavailable to the client. All parties involved benefit from improved cybersecurity posture, a clearer view of where claims will come from, reduced exposure to cyber losses, removing reliance on the customers understanding of what is being asked of them and validation of their cyber position before placement. Insurers can collect consistent data, offer competitive premiums, reduce losses from cyber claims, and develop risk-based pricing models with Infoprotect's expertise. If you'd like to find out more about how this could compliment your current client proposition just drop me a line or get in touch with Brad Fraser, CEO at Infoprotect UK #cyberinsurance #cyber #cybersecurity #insurance #insurer #cyberunderwriter #casestudy #fortmesa

According to a recent article from Business Insurance, cyber, financial, and labor are among the top risks faced by the commercial construction industry. https://lnkd.in/exDWxYux In this 3 part series, our construction-specializing client advisors from 3 different markets provide their insights on each of these risks. In Part 1, Client Advisor, Elisha Burks, looks at the cyber risks that commercial construction companies are vulnerable to and how they can mitigate these risks. #SSP #SSPKnows #CommercialConstruction #Risk #RiskManagement #Cyber #CyberThreats #SSPLittleRock #SterlingSeacrestPritchard

Inspired by a recent article from Tapan Singhel #cyberrisk #cyberinsurance #AskBimaBhaiSeries addresses in a 2-part video series the increasing threat from #Cybercrimes and the need to address it. Svapan Ananth Consultants Cyber Risk & Insurance - Part 1 #onlinelearning #educationforall #learningbytebybyte #insurancetraining #learningmadeasy