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.

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