Hacking that targets individuals and business is now a way of life. This has created a vast and growing market for cyber insurance, costing companies at least $3.25 billion each year in annual premiums. But that’s a drop in the bucket compared to what they will pay to insurers by 2025 – as much as $20 billion, according to Allianz SE, the world’s largest insurer. There is also a market for individuals who fear that they, or their families, could be hacked.
To learn more, read Ed Leefeldt’s CBS News article. Contact us to review your cyber and crime policies and coverages.