Cyber Insurance Basics

The cyber insurance market has exploded in recent years, from approximately $600 million in premiums paid in 2010, to over $2 billion in 2016. It’s no coincidence that this period of rapid growth coincides with the passage of the HITECH Act in 2009, which ushered in a new area of HIPAA enforcement, including stiffer fines for violations. It’s also no coincidence that cyberattacks have been steadily increasing. (more…)