Biba 2011: Cyber insurance to “be worth more than D&O and P&L combined”
Graeme Newman, business development director at underwriting agency CFC, has predicted the rise of cyber insurance, as cyber-related crime and scandal hit the national headlines.
Cases such as the Twitter super-injunction scandals and Sony Playstation data hacking case have highlighted the rising prominence of risks facing firms over publishing and storing information.
This, Mr Newman said, was an opportunity for the insurance industry: "Technical crime is changing the criminal landscape. We are now all publishers via twitter. Criminals can steal without actually taking anything tangible."
He added the insurance industry was "to blame" for not adapting to the risks: "Why
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Cost-of-living crisis pushes up premium finance demand
- Video Q&A: Close Brothers Premium Finance MD Shaun Hooper
- Ardonagh strikes A$2.3bn PSC deal