Cyber Insurance

Hack Attacks and Data Law Boost European Cyber Insurance Demand

Noor Zainab Hussain and Carolyn Cohn | December 18, 2015 

New European legislation on data privacy is helping push up regional demand for cyber insurance, industry specialists say, after companies such as TalkTalk and Experian were affected by hackers earlier this year.
The European Union agreed this week to change fragmented data protection laws, forcing companies to report breaches likely to harm individuals to national authorities within 72 hours.
Up until now, insurers say many European companies have swept the issue under the carpet and shown little interest in cyber cover. But anticipation of the European law has already boosted demand [...]

Source: http://deloitte.wsj.com/riskandcompliance/files/2015/03/cyber_insurance_1a.png

<more at http://www.reuters.com/article/us-europe-cyber-insurance-idUSKBN0U11NO20151218; related links: http://www.iamagazine.com/markets/read/2014/12/01/what-will-2015-bring-for-cyber-liability- (What Will 2015 Bring for Cyber Liability? December 1, 2014) and http://www.insurenewmedia.com/pages/cyberliability.asp (Cyber Liability Insurance Explained. 2015)>