Insurers may need to change their underwriting and pricing approach to meet bullish forecasts for sales of cyber coverage, considering the speedbumps keeping many carriers from stepping on the accelerator and prompting the majority of potential buyers to hit the brakes.
In theory, cyber insurance should be a product that sells itself, given the increasing frequency and severity of high-profile hacker attacks against major organizations as well as the growing number of individuals coping with online identity theft. Yet in practice many insurers are struggling to get a handle on this promising but problematic market, while the majority of buyers are hesitating to add the coverage to their risk management portfolio.
Cyber Remains a Relatively Small Niche Market
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
