Tag: cyber insurance trends

Demand for cyber insurance rises throughout Europe

Julie Campbell
cyber insurance theft biometrics

As digital attacks and data breaches spread like wildfire, European companies are aiming to protect themselves. New legislation in the European Union with regards to data privacy is giving a considerable shot in the arm to the cyber insurance industry, say specialists in that market, particularly following some very high profile attacks on companies such as Experian and TalkTalk earlier in 2015. Last week, the E.U. agreed that its data protection laws needed to be changed from their previously fragmented state. The new laws will require companies to report data…

Read More

Cyber insurance market continues to grow in the US

S.Vagus
cyber insurance theft id higher rates

More companies are beginning to embrace cyber insurance in order to guard against digital threats Cyber insurance is growing quickly in the United States, according to a new survey from the Council of Insurance Agents & Brokers. More companies are beginning to conduct business online, and this comes with significant risks that they may not be prepared to handle on their own. Consumer information is quite valuable, but many businesses have not had to protect digital information in any significant way in the past. As such, companies are beginning to…

Read More

Demand for cyber insurance is on the rise

Logan B.
cyber insurance

Cyber insurance is becoming more popular among the world’s various organizations Demand for cyber insurance is on the rise throughout the world, according to a new report from Timetric. This is largely due to the growing frequency of digital attacks against businesses and governments. These attacks are having a major financial impact on several organizations and consumers. With more businesses beginning to rely on technology and the digital space, cyber attacks are becoming a significant concern and organizations want protection against these attacks. Some $2.5 billion cyber insurance premiums collected…

Read More

PwC report shows cyber insurance becoming $7.5 billion market in 5 years

Julie Campbell
Cyber Insurance

These predictions for the Indian market were revealed this week at the Monte Carlo Reinsurance Rendezvous. According to the figures that were released at the Monte Carlo Reinsurance Rendezvous, the market for cyber insurance could blossom to a hefty $7.5 billion in India as early as the end of 2020, if things continue as they have been. This forecast, along with several other insurance predictions, was released by PricewaterhouseCoopers (PwC). PwC also stated that by the end of 2018, the cyber liability insurance market will have risen to $5 billion…

Read More

The cyber insurance market will explode to $10 billion in 5 years

G. Turner
identity theft cyber insurance

Still, the market remains primarily untapped, despite the tremendous potential it holds. It may not come as a shock to anybody that the cyber insurance marketplace is taking off and that it was recently estimated that by the year 2020, it will be worth about $10 billion, but what is shocking is the speed that it will reach in order to get there. The growth rate that it has been achieving has made it the top product in the commercial insurance sector. The forecast of the worth of the cyber…

Read More