PRA urges insurers to act on ‘silent cyber’ risks

Watchdog urges underwriters to embrace cross-policy stress-testing to identify exposure to claims from non-specified risks

cyber-crime

The UK’s Prudential Regulation Authority (PRA) has urged the insurance industry to ramp up monitoring of its exposure to cyber risk, including greater use of stress-testing exercises to monitor the aggregation of risks across multiple policy offerings.

In a supervisory statement issued this morning (July 5), the PRA sets out guidance on how UK underwriters should identify, quantify and manage their exposure to cyber insurance claims from both affirmative cyber risk – insurance policies that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: