Interest in cyber insurance is expanding rapidly, a top officialof Marsh & McLennan testified before a Senate committee today,with the number of Marsh clients purchasing stand-alone cyberinsurance increasing by more than 20% in just the past year.
The Marsh official also testified that, in the area of cybersecurity, "offense is a lot easier than defense," that is,companies should be aggressive in taking steps to head off cyberbreaches.
"There is no silver bullet or panacea that will eliminate thisrisk," said Peter Beshar, Marsh executive vice president andgeneral counsel.
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