X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Cyber insurance maintained its double-digit premium-volume growth in 2012, with capacity high, pricing competitive and buyers increasingly willing to pull the trigger on both third- and first-party coverage. Thanks to a proliferation of data breaches, an ever-increasing number of regulations around the protection of private information, and the growing availability and awareness of Cyber insurance, business is booming in this marketplace. 

“It is big, and it’s growing,” says Rick Betterley, president of Betterley Risk Consultants.

How big? Standalone Cyber insurance is now a $1 billion market, according to Betterley’s 2012 Cyber/Privacy Insurance Market Survey, up 25 percent from $800 million in 2011. That still makes Cyber a small fraction of the total U.S. P&C marketplace; however, it does put the coverage in line with the $1.4 billion Employment Practices Liability insurance (EPLI) market—even though Cyber has been around only half as long. 

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?

Dig Deeper

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.