2014 marked an important milestone in the growth of cyber insurance with a significant jump in both the number of companies offering cyber insurance and the number of firms buying cyber insurance. Currently, over fifty major insurance providers now offer cyber liability insurance coverage. Demand for that insurance rose by 21 percent across all industries in 2013 compared to 2012, with financial institutions representing the biggest increase of 29 percent in coverage buying. In 2014 that pace doubled, in some areas tripled, in what suddenly has become a $2 billion industry. This CTO Corner discusses the value and importance of having a robust cyber insurance market place, the factors contributing to this increase in the use of cyber insurance, factors inhibiting the growth of the cyber insurance marketplace, and the impact of recent technology trends.
2015 Energy Industry Cybersecurity Report
Strategic Cybersecurity: A Toolkit for Prioritizing, Coordinating, and Transforming Your Cybersecurity Program