A New Obstacle For Cyberinsurance Coverage

Law360, New York (September 6, 2013, 12:14 PM EDT) -- As the recent spate of cases and news stories confirms that the rising threat and costs of cyberattacks have become a painful reality for U.S. and global companies and institutions. In 2012, cyberattacks against U.S. businesses increased by an estimated 42 percent, while over 90 percent of large U.K. organizations suffered on average 113 cyberattacks in 2012 alone.

Cyberattacks are estimated globally to cost nearly $400 billion annually (including downtime caused by the attacks). In addition, cyberattacks cost U.S. entities an estimated $250 billion annually in...
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