Vancouver, WA — (SBWIRE) — 11/15/2019 — Growth in the Cyber insurance market
Cyber risks are becoming more prevalent and disruptive, with an increased number of incidents involving data breaches, phishing scams, malware attacks, ransomware threats, and identity theft. Cyber insurance helps protect businesses against losses resulting from cyber-attacks or data breaches. Cyber insurance coverage can include data loss and restoration, extortion, legal fees, and more. Cyber Security Insurance Market insurance increases and improves cyber security with the benefits of good security, and internalizing of the costs of poor security. There are many benefits that coincide with investing in insurance.
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The growth of the US cyber insurance market is due to the introduction of legislation in most states to take appropriate security measures to protect against cyber risks and report serious breaches to national authorities. This led to an increase in demand for cyber insurance products covering personal data breach. The U.S. is the largest market for the cyber security insurance market. The…
