Cybersecurity » Pandemic Underscores Need To Insure Intangible Assets

Pandemic Underscores Need To Insure Intangible Assets


September 11, 2020

A recent joint report from Lloyd’s of London and KPMG finds that as much of 85 percent of total business value in many industries now resides in intangible assets. An interview with a Lloyd’s executive who heads the company’s North American operations suggests that risks to these assets have been exacerbated by the Covid pandemic, specifically on account of the security issues that arise when more employees are working from home. Major intangible assets identified in the Lloyd’s/KPMG report include reputation/brand, human capital, and intellectual property. For the insurance industry this trend represents a serious challenge, says the Lloyd’s official. “There have been a number of attempts, for example with reputational risk, by insurers, brokers and think tanks, to somehow quantify what damage to reputation is, and what that means in terms of stock value diminution.”

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