Guides

Underwriting is the foundation of the insurance industry. Insurance underwriters evaluate and analyze the risks involved in insuring people and assets. After determining the risk involved, the underwriter sets a price and establishes the insurance premium that will be charged in exchange for taking the risk.

Cyber Insurance is a relatively young product. It was born in the late 90’s but matured only few years ago. In the last few years this product has managed to become the fastest growing product in the insurance industry to date (37% growth YOY).

Today, most insurance companies are offering specialized cyber insurance products, and many of them are beginning to include cyber insurance coverages across other line of insurance, such as marine and general liability insurance.

Stand-alone cyber insurance policies have become common among businesses. These policies cover a variety of liabilities related to cyber risks, from data theft, data privacy, ransomware, service disruptions, and much more.