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The State of Cyber Insurance

Discussion in 'Network World' started by RSS, Nov 16, 2015.

  1. RSS

    RSS New Member Member

    All this year I’ve been researching the burgeoning cyber insurance market. Admittedly, this is a bit of a detour from covering endpoint security, network security, and security analytics, but cyber insurance is becoming an increasingly important puzzle piece in any organization’s risk mitigation strategy so it’s worth paying attention to.

    Given all of the highly-visible data breaches over the past few years, it shouldn’t be surprising that cyber insurance is on fire. Between 30% and 40% of companies have some type of cyber insurance today and the market is growing at 35% or more on an annual basis. It is estimated that the U.S. market for cyber insurance is around $2.5 billion today with about 50 insurance companies competing for business. PWC estimates that this market will grow to over $7.5 billion by 2020.

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