To say demand for cyber insurance is increasing would be anunderstatement. Existing buyers are looking for higher limits. Newbuyers—from industries that had never considered it—are purchasingcoverage. And companies of all sizes and stripes are looking forways to transfer risk through insurance products.

“I think it's fair to say interest in cyber has increased acrossthe board,” says William Boeck, senior vice president and claimscounsel at Lockton Cos. “All types of companies are focusing moreon the cyber risks they have, and as part of that, more areconsidering cyber insurance.”

Anthony Dagostino, executive vice president/FINEX Cyber leaderat Willis Towers Watson, notes that a few years ago demand camemostly from heavily regulated industries such as financial servicesand healthcare. Retailers were quick to follow after sufferinghigh-profile breaches. In more recent years, additional industrieshave entered the space, from manufacturing to education andprofessional services companies such as law firms and real estateagencies.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 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.