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Member, Beacon International Group, Ltd.
Experts have said that Bermuda can carve out a large part of a new market for cyber insurance, reported The Royal Gazette.
"Cyber insurance would seem like a strong candidate for the next wave of risk management innovation that Bermuda could take a significant role in," said Tom Kelly, KPMG L.L.P. director in the country. However, the government, insurers, reinsurers and regulators would need to work together to create "the right framework, incentives and skill sets to attract and appropriately manage this business," Mr. Kelly said.