Data Loss

Insurers must brace for catastrophic cyber risk

siteadmin April 7, 2022
In the past year, insurers have doubled the cost of annual premiums being charged to corporate clients, according to three cyber insurance providers interviewed by Bloomberg Opinion. A typical small business that previously paid $10,000 annually for $5 million worth of cover in the event of an attack is now likely paying closer to $20,000, with just $1 million worth of protection. (Credit: the_lightwriter/Adobe Stock) In the past year, insurers have doubled the cost of annual premiums being charged to corporate clients, according to three cyber insurance providers interviewed by Bloomberg Opinion. A typical small business that previously paid $10,000 annually for $5 million worth of cover in the event of…

Source: www.propertycasualty360.com – Read more