Sentences with phrase «cyber insurance industry»

The global cyber insurance industry is expected to grow to $ 7.5 billion by the end of 2020.

The findings from this report show that while the cyber insurance industry is growing, there's still a significant gap in cyber coverage.

Not exact matches

«We are in the early innings of cyber insurance and we haven't seen what a wave of payouts will look like for the industry,» says Viscuso.

«If the insurance industry collapses, it's going to be because of cyber insurance.»

But many in the computer security industry warn that all the excitement in the insurance space is not taking into account how much risk insurers have assumed and will be responsible for after a catastrophic cyber event.

That uncertainty is compounded by the obstacles hindering the insurance industry from fully meeting pent up demand for cyber insurance.

Risk managers and researchers say the cyber insurance policy, the industry's hottest product, could be unsustainable in its current form.

Could the HBO hack finally push the insurance industry to truly help companies offset cyber risks?

With many in the industry speculating the HBO compromise could mark a sea change for what is already one of the fastest growing types of business policy: cyber insurance.

While that's just a fraction of the $ 1 trillion in net premiums the U.S. insurance industry wrote in 2013, experts forecast that spending on cyber insurance will grow exponentially in the years ahead.

At the moment, data protection and cyber insurance are two of the evolving topics in the industry.

The insurance industry must also be alert to the fact that there are multiple potential benefits linked to big data analytics and processes, but there are also a number of growing risks, such as privacy issues and cyber threats, which may have a significant reputational impact on the insurer and the sector if they were to materialise, apart from other consequences attached to regulatory breaches.

According to a recent presentation by financial planning giant Ernst & Young, the global life insurance industry is focusing on three main issues in the coming year: Government oversight, macro-economic trends, and cyber risk (data security).

On the business side, the company offers commercial package policies, business owner policies, commercial auto, commercial umbrella, employment practices liability, worker's compensation, equipment breakdown coverage, industry specialties, cyber and data coverage, professional liability insurance coverage, and safety services.

As a result, cyber insurance rates have fallen during the first three months of this year for several high - risk industries, such as the retail and health care spaces.

We're thrilled that insurance industry leaders recognize that Apple products provide superior cyber protection, and that we have the opportunity to help make enhanced cyber insurance more accessible to our customers,» he added.