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Business/Financial

Use Of Cyber Insurance On The Rise But Products Remain Pricey, Experts Say

By Cal Biesecker

Tuesday, March 22nd, 2016

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Use Of Cyber Insurance On The Rise But Products Remain Pricey, Experts Say

Customers of the insurance brokering and risk management firm Marsh, LLC, are increasingly buying cyber insurance with most of the buyers being companies that aggregate personal data, a senior company official told a House panel on Tuesday.In 2015, sales of cyber insurance policies climbed 27 percent, 2014 sales of the policies were up 32 percent and 2013 purchases jumped 21 percent, Matthew McCabe, senior vice president at Marsh, testified before the House Homeland Security cybersecurity and infrastructure protection subcommittee. Marsh…

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