Now’s The Time For Insurers To Develop Meaningful Cyber Liability Policies

Uncertainty about several key variables appears to be causing U.S. businesses and insurance companies to move cautiously into the much-heralded, though still nascent, market for cyber liability policies. Insurers continue to be reluctant to make policies more broadly available. The big excuse: Industry officials contend there is a relative lack of historical data around cyber incidents, and they also bemoan the constantly evolving nature of cyber threats. This assessment comes in a report from the Deloitte Center for Financial Services titled: Demystifying Cyber Insurance Coverage: Clearing Obstacles in a Problematic But Promising Growth Market