"Cybersecurity Insurance Is Missing the Risk"

Cybersecurity insurance is a rapidly developing market, expected to rise from around $13 billion in 2022 to $84 billion in 2030. However, insurers have difficulty quantifying the possible risks of this type of insurance. Traditional actuary models do not work well in an environment where highly driven, creative, and sophisticated attackers dynamically pursue activities resulting in insurable events. Accurate loss estimation is critical for establishing customer premiums, but even after two decades, insurers' loss ratios vary significantly. Underwriting processes must be more robust to estimate losses and price reasonable premiums accurately. This article continues to discuss cybersecurity insurance challenges and the next generation of this type of insurance.  

Help Net Security reports "Cybersecurity Insurance Is Missing the Risk"