Insurance Experts Monitor Evolving Cyber, Environmental Risks

Evolving ransomware risks remain a significant concern for the cyber insurance market, while environmental insurers are carefully monitoring developing mold claims. A panel of insurance industry experts offered their views on the current state of the property, cyber and environmental markets on Thursday during the 21st annual Policyholder Advisor Conference held by policyholder law firm Anderson Kill P.C. in New York. On the cyber front, Kelly Geary, managing principal, U.S. cyber practice leader and coverage and claims leader for Integro Insurance Brokers in New York, said the WannaCry and Petya viruses that struck earlier this year “gave the insurance industry a glimpse of what it would be like to have a catastrophic event.”