Cyber-risk insurance, a new niche for Lebanese insurers

On the sideline of a seminar on cyber-risk insurance held on 3 May 2017 in Beirut, Nadine el-Habbal Assali, acting president of the Insurance Control Commission (ICC) stated that the global market is expecting a substantial increase of the demand for cyber-insurance.

According to the same speaker, underwritings of this kind of cover would represent a significant amount of money in insurance premiums for the next ten years.

Lebanese companies, which turned increasingly to digital, have remained highly exposed to this scourge. Insurers are, therefore, required to take advantage of this niche and propose products that meet the market needs.

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