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As of 2019, the average cost of cyber liability insurance in the United States was estimated to be $1,501 per year for $1 million in liability coverage, with a $10,000 deductible. [54] The average annual premium for a cyber liability limit of $500,000 with a $5,000 deductible was $1,146, and the average annual premium for a cyber liability ...
Private equity firm Blackstone will acquire a 9.9% stake for $2.2 billion in AIG's Life Retirement business, the companies had said last month, in an all-cash transaction. AIG is reducing cyber ...
The intersection of security risk and laws that set standards of care is where data liability are defined. A handful of databases are emerging to help risk managers research laws that define liability at the country, province/state, and local levels. In these control sets, compliance with relevant laws are the actual risk mitigators.
Liability insurance is far more prevalent in the advanced than emerging markets. The advanced markets accounted for 93% of global liability premiums in 2013, while their share of global non-life premiums was 79%. [2] The US is by far the largest market, with 51% of the global liability premiums written in 2013. This is due to the size of the US ...
Woodruff Sawyer surveyed over 40 of its clients and found that the industry has a gloomy outlook this year: 56% of respondents said they believed cyber risk would “increase greatly” in 2024.
Cyber-insurance is a business lines insurance product intended to provide coverage to corporations from Internet-based risks, and more generally from risks relating to information technology infrastructure, information privacy, information governance liability, and activities related thereto.
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