Cyber Forum - Session 2 - Accounting Issues
In this video, industry experts discuss the intricate challenges involved in handling cyber-related business interruption claims. They delve into topics such as the period of restoration, the impact of reputational harm, and the nuances of calculating financial losses in the aftermath of cyber incidents. The conversation emphasizes the importance of understanding policy language and the need for detailed documentation to support claims effectively.
- Period of restoration in cyber insurance claims is a critical topic, focusing on when the period starts and ends, and how it impacts loss calculation.
- The importance of linking the cyber incident to the financial loss is crucial, and establishing causation can be complex due to various factors like customer decisions and market conditions.
- Understanding the nuances of cyber business interruption losses requires a detailed analysis of the business operations, the nature of the incident, and the policy language to ensure accurate claims processing.
