September 27, 2018
On September 17, Willis Re released the 2018 Silent Cyber Risk Outlook, a survey that asked a wide range of respondents—brokers, underwriters, and claims and analysts/risk managers—to assess the likelihood of “potential cyber-related losses due to silent coverage under insurance policies not specifically designed to cover cyber risk,” also known as silent cyber risk.
The survey noted that the number of respondents who viewed silent cyber risk as a significant threat increased from 2017 to 2018 in all lines of business except workers’ compensation. Respondents also saw D&O and E&O at particularly high risk for silent cyber losses.