Why hasn't the cyber insurance take-up rate been greater and become a staple of the insurance industry? That is the multibillion-dollar question today.
The irreversible trend of a growing reliance on internet-based data flow and storage of information to capitalize on greater efficiencies and deeper insights has led to an increased number of cyber breaches and attacks. These incidents have become so frequent, widespread and costly in recent years that they're considered one of the fastest-growing concerns in the insurance industry. Cyber risk consistently ranks atop leading emerging risks analyses.
Allianz ranks cyber incidents, which include cybercrime, data breaches, and IT failures, as the third most important risk facing global businesses. Allianz cited business interruption, reputation loss and liability claims related to cyber incidents as being of particular concern.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
