Willis Re launches cyber insurer tool as risks remain unclear

February 3, 2015 publisher alice-underwood, among-insurers, companies-gauge, help-insurance, internet, portfolios, should-private, the-reinsurance, willis, willis-group

Reinsurer Willis Re on Tuesday launched a tool designed to help insurance companies gauge their portfolios' exposure to cybersecurity risks, the latest effort to develop a growing market that has nonetheless faced worries about potential pitfalls. The tool, called PRISM-Re, is meant to help insurance companies understand how much risk they face should they have to pay out for everything from managing a cyberattack crisis to hiring credit monitoring services should private data be breached. “There's still a little bit of hesitation (among insurers) about, 'how do I understand what my overall exposure might be',” said Alice Underwood, head of analytics for Willis Re North America

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Willis Re launches cyber insurer tool as risks remain unclear