“It’s one of the fastest growing product lines in the commercial insurance sector, and it’s frustrating as hell,” said Ken Crerar, President/CEO of The Council in a recent Leaders Edge article.
Crerar dives into the complex market where understanding a policy’s language, coverages and triggers can be confusing. “The problem, as we know, is that nuances of coverage descriptions, constant policy modifications and lack of policy language standardization make it difficult to keep up,” said Crerar.
Crerar believes that education on basic cybersecurity and information security is key and that is why The Council believes that as “brokers build their own internal understanding of their data, systems and security protocols, the expertise in protecting their clients from cyber risks will also increase.”
The Council has been increasingly focused on cybersecurity and insurance related issues “to better understand what the public and private sectors face in combating increasing cyber-security threats.”
Crerar’s full article can be found here.