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Member, Beacon International Group, Ltd.
IDC Financial Insights has said in a report that there are huge opportunities for insurers to capitalize on the largely untapped cyber insurance segment, reported SecurityBrief Australia.
But, insurers are reluctant to enter this market due to various reasons, including a lack of historical data for underwriting. Insurers should consider the available tools and technologies to advance their "ability to manage cyber risk and offer wider coverage against the growing threat of cyber attacks," said an IDC official.