We’ve written about the growth of personal cyber insurance and the challenges associated with it. Major insurance carriers continue to pursue the business, concluding that trends from the COVID pandemic provide tailwind for the market.
“’When commercial cyber losses started coming with frequency and severity, it wasn’t just the businesses who were hit by extortion demands and suffered business interruption costs, but the consumers whose information was compromised in the process. (Kareen Boyadjian, VP of Underwriting, Cyber & Tech E&O for Tokio Marine HCC – Cyber & Professional Lines Group) said…’All of a sudden, we were all in a position where the lines between an individual’s business exposure and personal exposure started to get a little blurry,’ said Boyadjian.”
Read the article here.