CFC:Cyber risk heat map
Cyber insurance has a long reputation as a privacy liability product for businesses that hold sensitive data – but privacy exposure isn’t the only risk facing businesses today. In fact, cybercriminals are increasingly targeting traditional industries that hold almost no sensitive data at all, whether through ransomware attacks that halt operations or business email compromise scams that result in wiring payments to fraudulent accounts.
For brokers wanting to start a conversation about cyber insurance with their clients, it’s important to focus on areas that are truly relevant to the industry they operate in. Our cyber risk heat map was built from data relating to 2,500 cyber claims we’ve dealt with in the last two years as well as trends that our incident response team is witnessing externally. This color-coded graph ranks the severity of different industries’ exposure to business interruption, privacy, and cybercrime and includes a few examples of how these exposures can play out for different types of organizations.