Cyber insurance is the fastest growing line of P&C coverage, but at an estimated $5 billion, its annual premium volume is quite small for a risk that affects virtually all enterprises. This presentation will consider whether cyber insurance is best considered as a type of surety product, wherein the insurer is underwriting the capabilities and capacity of the account as much as external hazards. Do the rigorous requirements of applying and qualifying for cyber coverage create an incentive to retain the risk?

By the end of this session, you should be able to:

• Discuss the unique evolution of cyber insurance as a non-standard specialty line needed by non-specialists
• Describe trends in applications for cyber coverage
• Describe trends in loss control requirements for cyber coverage