The similarities between a pandemic and a cyber attack should have all insurers reconsidering their stress scenarios. Key cyber risk concerns can be divided broadly into three categories, those related to silent cyber (non-cyber insurance policies that are liable for a cyber loss), claims trends and the effects of COVID-19.
A.M. Best plans to develop formal criteria for reviewing cyber risk as part of its Best Credit Rating Methodology, though the timing of this project is yet to be determined.
