Cyber Insurance Providers May Face Greater Risk Than Natural Disasters

Thursday, May 24th, 2018 Excess & Surplus Lines Technology

Data increasingly shows that the cost of a massive cyberattack can be more costly than a hurricane. It took a number of years for cyber insurance providers to be taken seriously. However, with the rising frequency and cost associated with high-profile and widespread attacks, that situation is changing. Insurance policies against hacking and data breaches are becoming the standard among large businesses. A recent PYMNTS report outlined the rising trend toward this type of coverage. Moreover, it pointed out that, moving forward, cyber insurance providers will face major risks.

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http://www.liveinsurancenews.com/cyber-insurance-providers-may-face-greater-risk-than-natural-disasters/

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