Business Interruption

From Risks to Resilience: Evolving Cybersecurity Strategies for Carriers

Key Findings

The vast majority of North American (88%) and global (84%) carriers have implemented enhanced cybersecurity measures to combat the increasing severity of cyber events.
Nearly half of both North American and global respondents identify data and cybersecurity risks as the most common challenge faced by businesses in the insurance landscape, making it the top mentioned concern.
75% of North American carriers have strengthened data security and privacy protocols to prevent improper data loss.

Cybersecurity in business resilience

Global business operations rely heavily on digital technologies and interconnected systems, making robust cybersecurity measures essential to business continuity.^[¹^] As the volume of data stored in cloud environments continues to grow, many carriers are navigating how to harness these technologies effectively while ensuring sensitive information remains secure.

In the last 12 months, cybersecurity risks have become one of the most significant challenges facing businesses. Both global and North American carriers cited data and cybersecurity risks as the top concern in our 2025 survey. This reflects the heightened urgency to mitigate vulnerabilities that could lead to

operational disruptions, reputational damage, or financial losses.

Strategic responses to evolving cyber threats

The implications of cybersecurity risks extend far beyond data breaches. From legal liabilities to prolonged business interruptions, the fallout of a cyber event can be severe.^[²^] For carriers, who manage vast amounts of sensitive customer data, the stakes are particularly high. Recognizing this, 88% of North American carriers we surveyed have proactively implemented enhanced cybersecurity measures to address the growing frequency and severity of these events. These efforts underscore a broader industry acknowledgment that resilience against cyber threats requires a multi-faced approach.

Additionally, 75% of North American carriers have introduced stricter data security and privacy protocols into their risk management strategies, aiming to protect against improper data release. A similar number of respondents have also introduced stricter data-sharing protocols to their strategies, ensuring that sensitive information is handled securely at every stage.

Managing risks through vendor relationships

An important component of these strategies is addressing vulnerabilities within vendor relationships. Globally and in North America, nearly two-thirds of survey participants have tightened vendor contracts and data-sharing agreements in response to the prevalence of cyber events. This strategic shift signals a growing focus on securing the supply chain as an extension of internal operations.

By strengthening vendor relationships and enforcing higher security standards, carriers are reducing the potential for disruptions originating from third-party partners. This holistic approach highlights the importance of a secure, well-managed ecosystem in maintaining operational continuity. Additionally, partnering with claims handling specialists with the ability to account for different cyber coverages and, paired with strong technical skills allows carriers to efficiently and effectively minimize risk from cyber exposure.

^{[1] Neagle, Shane. “}^{How Digital Transformation is Redefining Global Business Operations}^,”^{Global Trade}^{, 20 Jan 2024.}
^{[2] Mickelson, Kirsten. “}^{Understanding the Game in Order to Win}^,”^{Claims and Litigation Management}^{, 02 Apr 2024.}