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Published on March 13, 2025
13-minute video
At the Net Diligence Cyber Risk Summit, Insurer TV sat down with Joe Niemczyk, Sr. Director - Global Cyber Claims and Underwriting, to discuss emerging cyber claims trends. From systemic risk and privacy litigation to ransomware’s evolving tactics, he shares how insurers are adapting to rising threats and surging claim volumes. Watch the full interview below.
Five key insights:
Systemic risk is a growing concern
Large-scale vendor and supply chain attacks are driving a surge in claims. The cyber insurance industry must be prepared for rapid claim intake and response.
Evolving ransomware tactics
Threat actors are becoming more sophisticated, using AI to enhance social engineering and directly contacting individual victims to gain deeper system access. Data exfiltration without encryption remains a key extortion method.
Uncertainty around privacy litigation
Courts are beginning to define how outdated privacy laws apply to modern data collection. Settlements and judicial rulings in 2025 may provide clarity on the financial impact of these claims.
Cyber’s long-tail exposure is here
While ransomware dominated recent discussions, long-tail cyber claims, including class action lawsuits and regulatory penalties, have already materialized. Insurers must proactively manage and mitigate these risks.
Consistency and collaboration in claims handling
The cyber insurance industry must align on clearer policy language, forensic accounting standards, and best practices for handling business interruption claims to ensure smoother claims resolution and policyholder support.
Watch the full interview above to gain a deeper understanding of the trends shaping the future of cyber insurance.
