Experts expect the cyber insurance marketplace to continue to grow and become more sophisticated in 2015. In 2014 insurers began to develop segment-specific programs catered towards industries facing unique risks and these trends are expected to continue in 2015.
According to Graeme Newman, of London-based CFC Underwriters, “within the next 12 to 18 months we’re going to start seeing insurers rebuilding industry-specific products for cyber. At the moment, typically, there is just a generic product that is sold to all different types of businesses. But every industry sector is different and has different exposures.” Newman believes that insurers will begin to address the business interruption aspect of cyber-policies. Insurance Journal has the whole story.