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Insurers urged to shift from claims to cyber risk prevention
The Hartford and MSIG USA say cyber attacks are now unfolding in minutes, forcing underwriting to prioritize resilience and recovery planning.
Insurers are being urged to evolve from simply paying claims to acting as risk prevention partners, as specialty insurance faces more interconnected modern threats, according to a sponsored post from The Hartford.
The Hartford points to the cyber threat landscape shifting quickly, saying AI has shortened attackers’ timelines so incidents that once took months can now occur in minutes, including at least one reported case of an autonomous AI-driven attack with little human involvement.
In the post, Ryan Kratz, Head of Cyber for North America at MSIG USA, says underwriters and risk managers are focusing more on resiliency, including how organizations respond during an attack and how they recover afterward. He adds that preventative controls such as multi-factor authentication and endpoint detection and response still matter, but they are no longer sufficient on their own.
The post also describes companies as “racing” to deploy AI internally for defense, sometimes without the governance, oversight, or inventory management needed to do so safely, framing it as an ongoing AI arms race among organizations.