ANALYSIS: Not All’s Fair in Cyber War (For Insurers or Insureds)

As critical infrastructure providers face foreign-linked cyberattacks more often, insurers and industry groups are grappling with complex issues to develop a consensus on what exactly is insurable. But businesses waiting in limbo are not entirely powerless. By scrutinizing their cyber coverage policies, and demanding more details on policies of their vendors, they can better prepare for the inevitable.

High Premiums, Higher Demand

With estimated premiums totaling about $5 billion in 2020, cyber insurance, which generally covers liability and financial loss resulting from a data breach or other information security incident, is more than a niche market. But over the ...