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Does Broker Know Best When Purchasing Cyberinsurance?

Law360, New York (May 10, 2016, 10:35 AM EDT) -- Peter J. Biging

Jonathan L. Schwartz

Meghan A. Collins The word today on the lips of everybody in the insurance industry is “cyberinsurance.” That is because the cyberinsurance market is on the brink of exploding, with total annual premiums projected to grow to $20 billion by 2025.[1]

Policyholders, facing uncertainty as to exactly what the scope of the cyberrisks are, what optional coverages may be of particular utility to them and how to determine the appropriate level of insurance to purchase, yet well aware they need some form of cyberinsurance in the face of seemingly ubiquitous cyberattacks, know they cannot go...

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