Cyber insurance will likely eventually become as ubiquitous as public liability or professional liability coverage, according to a new report by Global Insurance Law Connect (GILC), an alliance of insurance law firms.
GILC’s first-ever Cyber Insurance Report included insights from 19 countries on their domestic cyber insurance markets. The report discussed key changes to the global cyber insurance market and provided an outlook for the coming years. It found that the range of security vulnerabilities exploited by cyber criminals continues to grow, as does the level of threat across all geographies and industries.
