In our second edition of Cyber IQ, the new publication from the cyber reinsurance team at Gallagher Re, we focus on the growing threat of ransomware. The type, frequency and severity of losses from ransomware attacks, has developed and grown over the course of the last decade, making the job of projecting ultimate loss ratios more difficult.
To help, we have outlined some of the challenges when considering development patterns for ransomware claims, to avoid over reserving or suboptimal business planning and reinsurance purchasing.
