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Demand for cyber coverage in Asia to grow in 2023: Beazley

Posted On: Jan. 9, 2023 9:39 AM CST

Cyber liability

Lucien Mounier, head of Asia Pacific at insurer Beazley Pte Ltd., said that growing cyber risks are increasing the demand for cyber insurance coverage, especially in Asia where new legislation is likely to drive a standalone cyber market surge this year, Asia Insurance Review reported. Mr. Mounier believes that an increase in understanding and expertise, supported by the cooling of the hard market, will lead to a boom in uptake.