Ep. 13 - How Cyber Insurance Should Respond To Systemic Risk - with Kelly Castriotta
Are systemic cyber risks uninsurable?
With catastrophic events amassing over 200 million in losses, there is an extreme tail to cyber that people are starting to appreciate.
For this reason, systemic cyber risks are a top concern for the future of cyber insurance.
In today’s episode, Kelly Castriotta, Global Executive Underwriting Officer of Cyber at Markel, chats with Anthony and shares her thoughts about systemic events and how cyber insurance should be responding to them.
You’ll learn:
1. That contrary to what is often seen in the press, cyber insurance does pay claims
2. Why cyber insurance shouldn't be bundled up in non-cyber policies
3. What kind of risks should coverage really be changing to adapt to
4. The challenges of war exclusion as a response to systemic risk
5. Why solutions to systemic risk need to be twofold
About Kelly:
Kelly Castriotta, Esq., is Global Cyber Underwriting Executive, for Markel Corporation (NYSE: MKL) where she is responsible for leading the global underwriting strategy for cyber risk impacting all lines of business at Markel. She has a diverse background in professional lines, ranging from product development and underwriting management to in-house claims consulting and coverage litigation.
Find Kelly on LinkedIn: https://www.linkedin.com/in/kelly-castriotta-esq-2405615/
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About Markel:
Markel Corporation (NYSE: MKL) is a holding company for insurance, reinsurance, and investment operations around the world.
Headquartered in Richmond, Virginia, and founded in 1930, our financial goals are to earn consistent underwriting and operating profits
and superior investment returns to build shareholder value.
Website: https://www.markel.com/
Industry: Auto Insurance, Financial, Services, Insurance Management
Company size: 10,000+
Headquarters: Glen Allen, Virginia
Founded: 1930
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About the host Anthony:
Anthony is passionate about cyber insurance. He is the CEO of Asceris, a company that enables its clients to respond to cyber incidents quickly and effectively. Anthony is originally from the US but now lives in Europe with his wife and two children.
Get in touch with Anthony on LinkedIn: https://www.linkedin.com/in/anthonyhess/ or email: ahess@asceris.com
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This podcast is produced by our friends at the SCL Program by SAWOO