Boom in cyber insurance predicted to gather pace
Saturday, 12 31 2016, Category: Technology, Country: World
The London insurance market, the largest in the world, is predicting a surge in companies and individuals taking out policies against cyber attacks in 2017 after a 50 per cent rise this year. “At Lloyd’s we are seeing huge cyber insurance uptake, and last year we introduced 15 different types of cover just for cyber, in anticipation of this demand rising in 2017,” said Inga Beale, chief executive at Lloyd’s of London. Cyber insurance is ballooning globally — the total written premium around the world is estimated at $2.5bn, and that could reach $20bn by 2025, according to Allianz.
Source: Financial Times