Fear of cyber-attacks drives sale of insurance up 50%

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Total written premium for cyber insurance globally today is estimated at £2bn.

It has been found that two in five (40%) insurance companies have seen their cyber book grow by over 50% in the last twelve months, according to research by CFC Underwriting.

Their survey conducted at the 2016 Cyber Symposium, which surveyed 57 insurance bosses, showed that a quarter of firms noted that the "fear factor" of impending and expensive attacks played a big part in the increase of policies.

The top driver for demand in 2017 will be cyber insurance the respondents predicted.


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