A study from Moody’s Investors Service found cyberinsurance premiums grew to $2 billion in 2018 and have seen a cumulative annual growth rate of 26% since 2015, the South China Morning Post reports. Moody’s found global insurance companies have financially benefited from the increased demands for cyberinsurance. “The proliferation of new rules around the globe boosts demand for cyber insurance, but also raises questions and highlights uncertainty around the scope of insurance coverage,” Moody’s Associate Managing Director Sarah Hibler said. The report noted claims are normally high as cyberattacks have the potential to have a high number of victims and that situations may get worse as more companies move to cloud computing.
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