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Cyber Security and Insurance Coverages

Amid a rising number of data breaches, financial fraud and identity theft, cyber coverage is popular in today's excess and surplus lines market, experts say...
August 26, 2015

Amid a rising number of data breaches, financial fraud and identity theft, cyber coverage is popular in today's excess and surplus (E&S) lines market, experts say. Cyber represents a small but expanding portion of the overall E&S market, says Randall W. Goss, chairman and CEO of U.S. Risk Insurance Group Inc. "[Cyber is] obviously the hot product today," said James Drinkwater, property/casualty brokerage division president of AmWINS Group Inc. in New York commenting this month in Business Insurance. "That's one of the things that everybody is looking at, and I think demand continues to increase."

PIA National Senior Vice President of Industry Affairs Patricia A. Borowski took a comprehensive look earlier this year at where the insurance industry stands on cyber coverage issues in her article in PIA Connection, Cyber Security and Insurance Coverages.

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