X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
By Steve Haase, president of INSUREtrust, and Allen Cross, senior risk consultant at INSUREtrust

The cyber liability market is poised to grow at a double-digit pace again this year, as more companies, prompted by the constant stream of headlines about cyber criminals attacking big corporations, reluctantly realize that they need coverage.

While the word “cyber” has taken on a broad range of meanings—from electronic espionage to the virtual reality world of the Internet—the cyber insurance marketplace not only addresses the dangers to business posed by criminals looking for data stored on corporate computer networks, but also paper files that get into the wrong hands, and a wide range of other cyber events. In many cases, vulnerable data involves confidential corporate information including contracts, financials and possible equity offerings. But the most widely recognized at-risk data is personally identifiable information (PII): names, addresses, Social Security numbers and other intimate personal information that criminals can sell on black markets for great profit. 

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.