Cyber insurance is a potentially huge but still largely untapped opportunity for insurers and reinsurers.
It is estimated that annual gross written premiums will increase from around $2.5 billion today to $7.5 billion by the end of the decade. Accordingly, many insurers and reinsurers are looking to take advantage of what they see as a rare opportunity to secure high margins in an otherwise soft market.
However, wariness of cyber risk is widespread.
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