The study, based on more than 63,000 insureds, found that traditional underwriting metrics do not fully capture the complexity of an organisation’s digital footprint.
The regulator also wants insurers and other financial institutions to demonstrate how geopolitical risks are embedded in strategy, risk appetite and board oversight.
Insurance research institute told a Seoul workshop that correlated shocks from both perils need dispersing through reinsurance, capital markets, and a defined public-private framework.
