In total, 184 insurers reported writing some cyber premiums in 2018. This was an increase of 14 insurers over 2017, including 21 new insurers writing premiums that were partially offset by mergers and acquisitions. (Credit: Shutterstock) In total, 184 insurers reported writing some cyber premiums in 2018. This was an increase of 14 insurers over 2017, including 21 new insurers writing premiums that were partially offset by mergers and acquisitions. (Credit: Shutterstock)

Cyber insurance is virtually a must-have for nearly all businesses in today's marketplace. Events like the WannaCry and Petya attacks, along with various breaches in a number of industries, have highlighted the destructive potential of a cyberattack. Even a small scale phishing attack can cripple businesses through reputational damage and business interruption.

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
NOT FOR REPRINT

© 2024 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.

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].

Agency Management
Catastrophe & Restoration
Cybersecurity