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Cyber: Rising Interest, Insurers’ Response and Fears of a Mega Breach

2013 was an active year for cyber breaches, and interest in insurance is rising. But insurers worry that a mega-breach impacting multiple clients may be just around the corner.

By Phil Gusman | Updated on May 22, 2014

From news stories to webinars to presentations and discussions at trade shows, it’s been nearly impossible over the past year to avoid the topic of cyber risk. The threat is not new, and insurance addressing the risk has been around for about 15 years now, but only recently has the issue become top-of-mind for so many. 

Before the 2014 RIMS Annual Conference and Exhibition, PC360 asked four risk managers that sit on National Underwriter’s editorial board what the most significant emerging risk on their radar was. Three of the four mentioned cyber risk. And that was just a preview to the mood at the RIMS conference, where cyber was a popular topic among both buyers and sellers of insurance. 

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