Asia Pacific
 
Bashe Attack - Global Infection by Contagious Malware Report
 
The Bashe Attack: Global Infection by Contagious Malware Report explores how a ransomware attack might take place using a fictional scenario and what the impact would be on governments, businesses, and the insurance sector.
While there are insurance solutions that could support de-risking in M&A transactions across various industries, none are as widely used as Warranty and Indemnity (W&I) Insurance. W&I Insurance is often utilised in deadlocked transactions or to address post-closing concerns and contingent liabilities, due to breach of warranties given by sellers under the sale and purchase agreement.
  • Understand regional economic impact in the U.S., Europe, Asia, and the rest of the world, as well as by industry sectors.
  • Challenge assumptions of how prepared the global economy is for a cyber-attack of this nature and scale.
  • Discover lessons for the insurance sector in terms of policy, legal, and aggregation issues in cyber insurance products.
  • Identify opportunities for insurers to expand their business in insurance classes associated with ransomware attacks.
This report has been co-produced by Lloyd's, Aon Centre for Innovation and Analytics (ACIA), MSIG, SCOR TransRe and CyRiM.
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About CyRiM
The Cyber Risk Management (CyRiM) project is led by NTU-IRFRC in collaboration with industry partners and academic experts. CyRiM is a pre-competitive research project that aims to foster an efficient cyber risk insurance market place through engaging industry and academic experts guided by government and policy level research. The CyRiM project will help Singapore to become an industry centre of excellence on cyber risk and grow the cyber risk insurance market by promoting both the demand and the supply of insurance coverage.
For more information about CyRiM please visit http://irfrc.ntu.edu.sg/Research/cyrim/Pages/Home.aspx
Cambridge Centre for Risk Studies
The Centre for Risk Studies is a world leading centre for the study of the management of economic and societal risks. The Centre’s focus is the analysis, assessment, and mitigation of global vulnerabilities for the advancement of political, business, and individual decision makers. The Centre provides frameworks for recognising, assessing, and managing the impacts of systemic threats. The research programme is concerned with catastrophes and how their impacts ripple across an increasingly connected world with consequent effects on the international economy, financial markets, firms in the financial sectors, and global corporations. To test research outputs and guide new research agendas, the Centre engages with the business community, government policy makers, regulators, and industry bodies.
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