Brian Duperreault, CEO at Hamilton Insurance Group, discusses cyber risk during the recent IIS Global Insurance Forum in New York.

Mr. Duperreault admits that cyber risk is “hard to get your hands around.” While the industry has products to address cyber threats, it has not “found the code” to underwrite the risk properly.

Cyber is a rapidly evolving, manmade risk. When you think you have a solution, the attackers develop a new approach. It is somewhat like terror risk or warfare, Mr. Duperreault says, and the insurance industry has had a hard time covering war risk. This is not much different.

For more of our coverage of the IIS Global Insurance Forum, visit the On Demand Library.

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