President of Tata AIG general Insurance, M Ravichandran
said cyber insurance policy will provide cover against cyber extortion and breach of data privacy.
Risk managers and researchers
say the cyber insurance policy, the industry's hottest product, could be unsustainable in its current form.
Not exact matches
But that long history of data on past catastrophes does not exist in the
cyber insurance policy world,
says Stephen Boyer, the CTO and co-founder of risk - rating company BitSight, a company that assesses company risk for
cyber policies written by AIG, Travelers, and others.
Robert Hartwig, president of the
Insurance Information Institute, says the typical cyber insurance policy has three primary co
Insurance Information Institute,
says the typical
cyber insurance policy has three primary co
insurance policy has three primary components.
David Pollitt, partner and head of
insurance at DAC Beachcroft,
says: «We think evolving data protection law could really boost
cyber insurance policies, with data breaches set to become more costly.»
«There are modified
cyber crime
insurance policies that cover theft or loss of cryptocurrency that are custodied by a given entity, like an exchange,»
said Marshall Swatt, founder of the New York bitcoin exchange Coinsetter, which got acquired by the San Francisco - based exchange Kraken in 2016.