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Insured losses in the single-digit billions would not translate into a material impact for (re)insurers.
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The airlines, healthcare and financial services industries were some of the sectors affected by the outage.
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The broker warned that D&O and P&C policies could also be impacted by the outage.
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CrowdStrike has an estimated 15%-25% market share among large companies.
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The incident highlights the aggregation risk around cloud service reliance.
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Listen in as Aegis London CEO Alex Powell discusses how to underwrite profitably through the cycle, the carrier’s growth in the cyber market, and the company’s future strategy.
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Many have argued war exclusions have detracted from discussions of systemic risk in the cyber market.
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The business specialises in hard-to-place risks.
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Lucien Mounier has served for six years as Beazley’s head of Asia Pacific
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Improved cyber hygiene and strong insurer competition has driven rate reductions.
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Quota share commissions are under pressure amid changing buying patterns.