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Thursday, October 22, 2015

Cyber Insurance Policies

In the CACM:   A good overview of the direction and providers of Cyber insurance policies.

" ... The cyber attacks carried out against Sony, Target, Home Depot, and J.P. Morgan Chase garnered a great deal of press coverage in 2014, but data breaches, denial-of-service attacks, and other acts of electronic malfeasance are hardly limited to large, multinational corporations. However, it is the high-profile nature of these breaches—as well as the staggering monetary costs associated with several of the attacks—that are driving businesses of all types and sizes to seriously look at purchasing cybersecurity insurance.

Currently, the global market for cybersecurity insurance policies is estimated at around $1.5 billion in gross written premiums, according to reinsurance giant Aon Benfield. ... "

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