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According to Fitch Ratings the cyber insurance market stands to be a key growth opportunity for the global (re)insurance industry.

However, they did note that the increased potential for significant loss due to the increasing number of sophisticated attacks. According to Fitch, “given the potential magnitude of losses from cyber attacks, governments will inevitably have an increasing role to play in the prevention and indemnification of global cyber attacks.” However, they believe that insurance companies will play an important role in working with and shaping government-led initiatives.

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