Shareholder activism over cyber risk may prove pivotal for market: Swiss Re exec
Cyber insurers will benefit from – and should be prepared to support -- shareholder agitation over the threat of cyberattacks, a Swiss Re executive has said.
Speaking earlier this week on a webinar hosted by NetDiligence, Swiss Re head of cyber and digital solutions Maya Bundt said insurers should potentially support greater action from shareholders and other stakeholders – and that the threat should increasingly be treated like environmental and social concerns.
“There is a trend that is developing in terms of investors and stakeholders needing to understand the cyber posture of any company before they consider marking an investment.”
“If we compare what’s happening with ESG, with the new standards, I believe there is potentially a similar trend to be seen with cyber risk,” the executive said.
The comments come after cyber market veteran Graeme Newman on Tuesday told this publication that cyber insurers have a key role to play in fighting digital ransom claims, rather than fueling them.