Insurers grow their cyber crime insurance sales, but assessing
and managing cyber risk poses challenges.
The cyber insurance market is booming due to rising
cyber-attacks, but insurance organizations will need to become much
more sophisticated in their approach to assessing and managing
cyber risk if they hope to turn cyber policies into a strong and
sustainable line of business.
A growth market emerges
Encompassing a broad range of cyber insurance products designed
to cover operational risks affecting confidentiality, availability
or integrity of information and technology assets, cyber insurance
is among the fastest-growing niches in the industry. While its
growth is led predominantly by financial institutions seeking to
perform cyber risk management and better transfer their cyber risk,
demand is also being driven by regulatory pressures and
notification legislation that will require all firms to notify
individuals if their personal data is breached. Companies
