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UK’s cyber-insurance market is expected to value £6 billion ($9.37 billion) by 2020, reports SC Magazine.
More firms are starting to consider transferring risks to insurers given the rising number of cyber-attacks, according to ABI Research,. However, despite the increasing awareness of vulnerability to breaches and risk management actions, less than 20% of big organizations take cyber-insurance.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees