Corporate interest in cyber liability insurance continues to gain momentum, and could strain an already limited supply of policies, according to a new executive brief published this week by market research, advisory and consulting firm Novarica. The firm attributes the growing interest to increased cyber threats and the potential financial exposure they represent, as well as the changing regulatory climate.
The 8-page report, “Cyber Risk Trends,” authored by Novarica’s analyst Faye Yaun and research and knowledge systems manager Steven Kaye, notes that while cyber risks and cyber liability offerings have been around since the early 1990s, the threat landscape is drastically changing. The report cites recent high-profile cases, such as the recent hackings of Target and Nieman Marcus that compromised the personal information of more than 100 million customers, multiple articles and studies that look at cyber risk.
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