Saturday, April 15, 2017

cybersecurity insurance will be the fastest-growing segment of the market

Evan Freely has been insuring global risks for years—through the 2008 market meltdown, the 2002 crisis in Argentina, and the 1993 downturn in Venezuela.
Yet turmoil now seems to be coming at a more rapid pace than he’s seen before. “I’m more concerned today about political risk than ever,” says Freely, the global head of political risk and credit specialties at Marsh & McLennan Cos., the world’s largest insurance broker.
Rising populism in France, Germany, Denmark, and Greece has turned up the dial on his company’s barometer of turmoil in the region. That and other developments are pushing the market for political risk insurance toward $10 billion in 2018, up from $8.1 billion in 2015, according to a KPMG LLP report published last year. The consulting firm says demand has been spurred by companies looking for coverage against cyberattacks and terrorist events. KPMG reckons that cybersecurity insurance will be the fastest-growing segment of the market, increasing 20 percent a year from 2015 through 2018.
Terrorist and hacking threats are compounded by changes in attitudes. Many Europeans have become averse to free trade, to immigration, and to losing national identities, according to Freely’s group at Marsh & McLennan.

end partial quote from:
Should You Be Worried About Political Risk? (Hint: Insurers Are)

For me, the point is how Populism which is another indicator of the Technological Singularity we are approaching faster and faster to where (sometime between 2025 and 2050) we will have devices like a smartphone for under 1000 dollars equal to all human minds on earth. It is expected for sure that a smartphone will be equal to one human mind by 2020 to 2025 already. Is this a good thing or a bad thing?

It likely will depend upon how everything is used. What purposes will people use these devices for? They can be used to heal or kill people or anything in between.

Populism occurs when the average person's needs on earth are not being addressed like right now.

This occurs because the top 1% to 10% of mankind uses the computing power for their own needs and considers (de facto) that everyone else either survives or they don't. This isn't something they likely spend time thinking about. However, this is what is happening in reality as the computer and brain power helps the rich but not necessarily the poor to survive.

So, populism is a reaction to not getting ones needs met in the middle Class and poor segments of society.

Computers and smartphones help the smartest richest people corner the market regarding wealth leaving the relatively uneducated either barely getting by or starving throughout the world.

So, populism is a response to not getting the needs met of the average person on earth, especially in democracies worldwide.

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