Biba 2011: Cyber insurance to “be worth more than D&O and P&L combined”
Graeme Newman, business development director at underwriting agency CFC, has predicted the rise of cyber insurance, as cyber-related crime and scandal hit the national headlines.
Cases such as the Twitter super-injunction scandals and Sony Playstation data hacking case have highlighted the rising prominence of risks facing firms over publishing and storing information.
This, Mr Newman said, was an opportunity for the insurance industry: "Technical crime is changing the criminal landscape. We are now all publishers via twitter. Criminals can steal without actually taking anything tangible."
He added the insurance industry was "to blame" for not adapting to the risks: "Why
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