Cybersecurity

Risks and opportunities abound in these insurance sectors.

Risks and opportunities abound in these insurance sectors.

Meet Jonathan Reiner, an executive vice president specializing in cyber liability at RT Specialty in Chicago.

Target agreed to pay more than $39 million to banks and credit unions for losses from a 2013 holiday-season data breach that led to the exposure of as many as 40 million payment cards.

The attack on VTech highlights how increasingly online-savvy children are vulnerable to hackers.

To assess risk management strategies among its members, RIMS conducted its first cyber survey, asking about insurance investments, exposures, cyber security ownership and government involvement, as well as identification methods and response procedures.

As more and more high-profile cyber attacks are identified, businesses are increasing their investment in cyber insurance to help mitigate their risk exposure in the event their data is hacked.

Take-up can be modest, but it won't be for long: Claims experience informs both underwriting strategies and the perspectives of potential clients.