Colonial Pipeline attack is a wake-up call to cyber insurers: AM Best
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Colonial Pipeline attack is a wake-up call to cyber insurers: AM Best

John Hewitt Jones
May 11, 2021
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Colonial Pipeline Baltimore Maryland
Alamy Stock Photo

The cyberattack that last week hit an oil pipeline stretching from Texas to New York was a “wake-up call” for cyber insurers and a sign of the rising complexity of claims, according to AM Best.

In a market note, the agency warned that providing cyber coverage without appropriate underwriting expertise and risk management measures may have ratings implications for insurers.

“Insurers

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