Welcome to 2018! In this month’s National Underwriter Property & Casualty cover feature, I examine the state of the Cyber insurance market and shed some light on the ever-evolving threats to business that can be mitigated with the aid of brokers savvy enough to identify coverage gaps in existing policies — primarily, Property and Business Interruption.
Business interruption is of particular note when discussing one of the great untapped markets for Cyber coverage: small to midsized businesses. These potential clients present the single greatest opportunity for Cyber coverage, because they’re the ones who need it the most.
Related: 5 ways to talk to midsize businesses about cyber liability
Businesses of this size don’t have the IT and information security budgets or personnel of a major corporation, nor do they typically possess the risk management resources of a larger organization. At the same time, they’re the segment that is most economically vulnerable to a cyber attack….
