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Cyber insurance: Developing knowledge

With the number of cyber crimes increasing, knowledge of attacks is developing enough for cover to be rolled out. What are the options for insurers?

When it comes to cyber crime, no one is safe. In the past months, victims have included Qatar National Bank, Canadian gold producer Goldcorp and a community website for Portsmouth called the Star and Crescent. There is little rhyme or reason as to why sites are being targeted or who will be next. Cyber criminals are on the rampage and, as few are brought to justice, their activities are proliferating.

Although this is a volatile and uncertain class of business, insurers are pressing ‘play’. Many point out knowledge is developing sufficiently to allow for accurate underwriting and pricing.

DWF's Jacquetta Castle comment on this article originally published in Insurance Post

 

This information is intended as a general discussion surrounding the topics covered and is for guidance purposes only. It does not constitute legal advice and should not be regarded as a substitute for taking legal advice. DWF is not responsible for any activity undertaken based on this information.

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Jacquetta Castle

I specialise in insurance coverage and professional liability, particularly for lawyers, brokers and financial professionals. I work for many of the major insurers.