Mark McLaughlin, global insurance director, IBM, said insurers will benefit from developments in data, artificial intelligence, cloud computing and industry platforms.
Matt Cullina, CEO, CyberScout, said cyber-related risks have evolved from data breaches to more targeted attacks that look to quickly monetize purloined data.
Chris Duffield, senior vice president, Swiss Re Canada, said some mutual insurers may be able to better negotiate changes to the insurance environment because of their focus on their policyholders and corporate values.
Lorie Graham, chief risk officer and senior insurance manager, American Agricultural Insurance, said cannabis growers and distributors face a range of challenges including overlapping jurisdictions that disagree on its legality.
A panel of cyberrisk experts gathered by A.M. BestTV at the Meeting of Reinsurance Officials in Montreal said insurers are using data to create and price cyber products, and that clients care about much more than financial indemnity.
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