US Treasury Bureau: Cyber Insurance Premiums Rising

Cybersecurity insurance is getting more expensive as insurance underwriters grapple with a lack of data on this ever-evolving coverage area.

The Office of Financial Research (OFR) says that cyber insurance premiums are rising as the insurance industry struggles with this unpredictable new coverage area.

The OFR said in its annual report to Congress, published this month, that while cybersecurity is probably the financial industry’s biggest concern at this point, insuring against it is getting more expensive. Part of the reason is that underwriters and actuaries lack adequate data for their risk models.

“Premiums on cyber insurance

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