CrowdStrike unpacked: The importance of cyber risks and insurance with Oren Jacobi
Oren notes that the CrowdStrike outage was a “wake-up” call in terms of system failure risk, and underlined the importance of cyber insurance once again.
The recent CrowdStrike worldwide outage last month well and truly put the importance of cyber risk in the spotlight. Oren Jacobi, Founder of Insurance Training Australia notes that this outage was a “wake-up” call in terms of system failure risk, and underlined the importance of cyber insurance once again.
The worldwide outage that affected businesses relying on Microsoft operating systems ended up impacting 8.5 million machines. In his article, Oren discusses what the outage means for cyber insurance policies, why it’s critical for brokers to periodically review cyber-related covers with their clients, and how risk is viewed by insurers in an online world where we’re increasingly vulnerable to cyber attacks and outages.
Oren’s analysis of the Crowdstrike outage reveals two key takeaways:
1. This incident has once again highlighted that businesses are susceptible to outages in a digital world
2. It’s an important case study for brokers to keep in mind when they’re discussing the importance of cyber risks and cyber insurance with their clients.
You can read Oren’s full article here.
Oren is one of the speakers at the upcoming 2024 NIBA Convention held in October at the Adelaide Convention Centre. Join Oren on Tuesday 22 October to gain insights into mastering client satisfaction by understanding and exceeding their expectations. His session explores effective strategies and tools to align your business practices with client needs, ensuring a client-centric approach that fosters loyalty and drives success.
The NIBA Convention is the flagship event for the insurance broking profession. This unique gathering brings together the entire broking community and the wider insurance industry. With 51 speakers, 21 sessions, and around 800 delegates, you will have the chance to learn, share, connect, celebrate, and explore the key future trends impacting our profession and the broader insurance sector in Australia.
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