Why do investors prefer companies with better overall ESG scores?
They typically have fewer liabilities, making it easier to acquire capital. High ESG scores also tend to go with good employee relationships and brand reputation
What are cyber risks?
Losses relating to damage to, or loss of information from, IT systems and networks q
What is a cyber event?
Any actual or suspected unauthorised IT system access, electronic attack or privacy breach
What is cyber extorsion cover?
Protects business in the event of ransomware and other malicious attacks
How can you transfer risk to cyber insurance?
- preventing cyber incidents from occurring
- Security and privacy breach costs
- business interruption
- legal liability costs
What is the data bias or lack of fairness risk category for AI?
Unintended discrimination by AI or groups by gender, race, age or other distinguishing characteristics such as geography
What is cyber risk category in AI?
Cyber vulnerabilities of AI systems, or malignant use of AI systems
What is algorithmic and performance risk category in AI?
Failure of AI to hit required performance metrics
What is lack of ethics, accountability and transparency risk category in AI?
Failure of AI to a required code of ethics and accountability, obscured by lack of transparency
What is intellectual property risk category in AI?
Use of third-party IP for AI training purposes and unintended IP violations by AI systems
What is privacy risk category in AI?
Exposure of personally sensitive data in training AI and unintended disclosure of effective identification of individuals in AI output
What are the key findings of the Swiss Re study?
In the short term the highest level of risk will be concentrated in a few sectors: media and communications, technology and energy and utilities.
In the longer term AI use will become more common and risks spread across all sectors
