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Fitch cautions insurers about adding cyber exposures amid underwriting uncertainty

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U.K.-based Fitch Ratings Ltd. said that while the current slew of ransomware attacks in more than 150 countries is likely to increase demand for insurance, it recommends that insurers cautiously add cyber exposure, Asia Insurance Review reported. There is considerable uncertainty in pricing and underwriting this risk given the still-limited data from historical claims losses, the ratings agency said. Aggressive expansion by individual underwriters into the segment could be credit negative, Fitch added.

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