Monday, May 12, 2014

Insurance Companies Struggle to Price Cyberliability Risk

"Insurers have old, tried and true ways to rate the risk of customers for more conventional forms of insurance, like homeowners and professional malpractice, but cybersecurity insurance is both new and increasingly competitive. It creates an uncomfortably risky situation for the insurers themselves. The "data-driven risk management" BitSight is working on, explained by Boyer in a recent webinar, might help insurers to price the risk more accurately, and this will be better for everyone (at least in the big picture)."