Companies' increasing reliance on technology means cyber risk and directors and officers (D&O) risk increasingly go hand in hand, according to a report backed by Marsh and AIG. The report, titled "The Future of Cyber Risk: A Global Perspective," was released today at the annual conference for financial services executives held annually in New York. Last year saw as many cyber claims as the previous four combined, according to AIG.
Companies' increasing reliance on technology means cyber risk and directors and officers (D&O) risk increasingly go hand in hand, according to a report backed by Marsh and AIG. Since a number of high-profile shareholder actions have been taken as a result of cyber breaches, security lapses can also impact companies' D&O policies, the report noted. Last year saw as many cyber claims as the previous four combined, according to AIG.