EU Sees Surge In Cyber Crime Insurance For Financial World

Law360, London (April 20, 2017, 3:23 PM BST) -- An increasingly interconnected financial world and market makers' use of aging IT systems have left firms vulnerable to cyberattacks, which will drive a surge in demand for cyber coverage, according to a report released Thursday by three of Europe’s top financial regulators.

Firms have been left vulnerable to cyberattacks in an increasingly interconnected financial world, three top European financial regulators warn as they predict a surge in cybercrime insurance. (AP) But unlike other indemnities, the fledgling cyber insurance industry faces a severe lack of historical data to inform pricing, the European Supervisory Authorities warn in their spring report on risks and...

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