Higher-than-expected claims underline the need for tailored coverage and expanded facultative capacity to help safeguard the critical semiconductor supply chain.
Facility provides business interruption cover for trade losses that ports may suffer through circumstances outside of their control, and has no geographical limit.
There is a wide variation in how cyber insurers deal with non-malicious outages like CrowdStrike and as a result making loss estimates for the software failure is difficult.
Taiwan's insurance industry stands firm in the aftermath of the Hualien earthquake, with state-backed funds and reinsurance mitigating potential losses.
