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Industry executives at a recent conference discussed how both insurers and potential clients could work together to grow a sustainable cyber insurance market in Asia, reported Asia Insurance Review.
Bernard Wee, an official at the Monetary Authority of Singapore, said that Asia accounts for a negligible section of the global cyber insurance market and there is significant opportunity for insurers in the continent.
Mr. Wee also noted issues such as the scarcity of historical data.
Speakers also highlighted that there were gaps in how cybercrime factored into cyber insurance.