We are entering a new era for global insurers, where business interruption claims are no longer confined to a limited geography, but can simultaneously impact seemingly disconnected insureds globally. This creates new forms of systemic risks that could threaten the solvency of major insurers if they do not understand the silent and affirmative cyber risks inherent in their portfolios.
This summer the email marketing industry suffered a setback due to “list bomb” attacks in which thousands of targeted users were unknowingly subscribed to tens of thousands of mailings. In these attacks, ESP infrastructure and highly-reputed brands were used as a means to effectively create a “denial of service” against user inboxes, and email originating from many ESPs and brands was blocked by Spamhaus until the situation was better understood. Could this have been prevented?