Magazine date:
Jan 2017  |
North America stands as the biggest market. In 2015, 87% of the premiums of this class of business were concentrated on this continent. It is public health companies and departments that are underwriting most IT risks. Health centers hold huge databases including information regarding customers and staff members.
In the United States, for instance, 78% of the hospitals have underwritten policies against cyber risks. In terms of size, the biggest companies contribute substantially to the turnover of the insurers who market this kind of product.
In Europe, new laws pertaining to data protection and security have been voted but European insurers will not benefit from any growing demand for such covers before 2018.