New regulations set to be introduced in Europe will boost demand for cyber insurance, and insurers which have already been operating in this space on the other side of the Atlantic look best placed to truly capitalise. Intelligent Insurer reports.
The looming introduction of new data breach regulations in Europe is set to boost demand for cyber insurance, offering insurers and reinsurers a potential growth market at a time of stagnating demand.
Many believe that insurers that have already gained experience grappling with this potentially tricky risk in the more developed US market will be best placed for capturing the potential growth in this fledgling market.
The US is the most developed market for cyber insurance in the world. One of the main drivers behind its growth has been the introduction of regulations including the introduction of mandatory disclosure laws for data breaches.
Europe, Specialty, Insurance, US, Kevin Kalinich, European Union, Paul Bantick, Huw Evans, Graeme King, Malcolm Tarling, Lloyd's, London, UK