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7 challenges insurers face in the cyber insurance market

Cyber insurance remains a work in progress when it comes to assessing the risks carriers face and providing a clear and comprehensive set of products and services to attract more buyers.

By Jayleen R. Heft | Updated on March 08, 2017

Conditions seem ripe for cyber insurance sales to take off given recent high-profile breaches and as more individuals fall victim to identity theft.

In fact, a recent international survey found the threat of cyberattacks is the biggest fear for businesses. Also, identity theft has become easier and more profitable for fraudsters. According to the Javelin 2016 Identity Fraud Study, fraudsters stole the identities of 13.1 million victims in 2015 and used them to spend $15 billion in fraudulent expenditures.

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Jayleen R. Heft

Jayleen R. Heft

Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].

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