Diabytes
Cyber insurance News
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Cyber insurance is a sort of coverage that guards against financial losses caused by many hazards of the digital age, including malware attacks, phishing, identity theft, and social media breaches, among others.
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US software security firm Symantec Corporation warns cyber threats would increase in the next year, especially risks to Apple devices, internet of things (IoT), and critical infrastructure.
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Rising cyber insurance premiums and limited damage coverage effectively mean that companies could be liable to pay more if they're hit by a cyber attack.
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The cyber insurance market will triple in size to $7.5 billion in annual premiums by 2020 and the insurance industry could face competition from disruptors such as Google if it does not act fast to develop products, a report said.
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