http://www.darkreading.com/perimeter/cyberinsurance-resurges-in-the-wake-of-mega-breaches/d/d-id/1316306
By Kelly Jackson Higgins
Dark Reading
10/2/2014
Insurance policies customized for cyberattack protection are on the rise
as businesses worry they could be the next Target. The string of data
breaches at Target, Home Depot, JPMorgan Chase, and so many other major
brands has reinvigorated the cyberinsurance industry.
Cyberinsurance, which originally was rolled into other insurance policies
or even considered unnecessary and ineffective, is enjoying a resurgence
of late. Policy purchases have more than doubled in the past year,
according to new data from The Ponemon Institute: 10% of companies held
cyberinsurance policies in 2013, but 26% do in 2014.
Kirstin Simonson, underwriting director for Travelers Global Technology,
says US premiums today are estimated at around $1 billion, and it won't be
long before they reach $2 billion.
[...]
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