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Member, Beacon International Group, Ltd.
Lloyd's of London has seen increasing demand for cyber insurance, The Telegraph reported.
"Cyber risk poses the most serious threat to businesses and national economies," said Lloyd's CEO Inga Beale.
The cyber insurance market has seen a 50% year-on-year increase in insurance submissions for the first three months of 2015, said an underwriter at Barbican Insurance Group, which operates a syndicate at Lloyd's.
"We're continuing to see new customers purchasing cyber insurance and existing customers purchasing higher limits following recent high profile attacks," said the underwriter.