Cyber insurance is still in its (relative) infancy but is fast developing. Data breach cover is established, especially in the US, with Beazley a leading writer of this risk but ‘cyber’ covers a myriad of potential exposures, (first/third party), which is becoming more apparent. We expect premium growth to accelerate as both sides become more aware/knowledgeable, boosted by losses and regulation. (Allianz estimates US$20bn+ by 2025). Beazley, but also Hiscox and Novae should benef
14 Oct 2015
Non-Life Insurance - Cyber awareness growing
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Non-Life Insurance - Cyber awareness growing
- Published:
14 Oct 2015 -
Author:
Joanna Parsons -
Pages:
3
Cyber insurance is still in its (relative) infancy but is fast developing. Data breach cover is established, especially in the US, with Beazley a leading writer of this risk but ‘cyber’ covers a myriad of potential exposures, (first/third party), which is becoming more apparent. We expect premium growth to accelerate as both sides become more aware/knowledgeable, boosted by losses and regulation. (Allianz estimates US$20bn+ by 2025). Beazley, but also Hiscox and Novae should benef