As companies increasingly do battle with hackers, viruses, data privacy leaks and theft and other cyber mishaps, insurers are developing cyber-insurance policies that protect firms across all industries—from financial services to retail to healthcare—against business interruption, data destruction, cyber extortion, cyber-terrorism and other threats to companies’ IT systems. Beginning in 2000, as cyber risks became more prevalent and companies got more involved in e-business, the insurance industry began to develop products that underwrite those risks. Still, only about $100 million in cyber insurance has been sold so far. Says Gartner Inc. research analyst Vincent Oliva: “That’s pretty small when you look at the multitrillion dollar insurance industry.” Full Story
About OODA Analyst
OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.