Businesses are catching on to the critical nature of this coverage, but there is a long way to go. The cyber insurance market represents a relatively new environment which comes with a high risk level. This requires insurance companies to use a cautious and meticulous strategy supported by reinsurance, according to a Moody’s Investors Service report. While the market growth is taking off, it still represents only a small fraction of the industry’s revenue. The cyber insurance market experienced a 26 percent cumulative annual growth rate in direct premiums since…
Read MoreDespite huge cyber insurance market growth, it remains a tiny industry fragment
