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In total, 184 insurers reported writing some cyber premiums in 2018. This was an increase of 14 insurers over 2017, including 21 new insurers writing premiums that were partially offset by mergers and acquisitions. (Credit: Shutterstock) In total, 184 insurers reported writing some cyber premiums in 2018. This was an increase of 14 insurers over 2017, including 21 new insurers writing premiums that were partially offset by mergers and acquisitions. (Credit: Shutterstock)

Cyber insurance is virtually a must-have for nearly all businesses in today’s marketplace. Events like the WannaCry and Petya attacks, along with various breaches in a number of industries, have highlighted the destructive potential of a cyberattack. Even a small scale phishing attack can cripple businesses through reputational damage and business interruption.

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at djacob@alm.com.

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