 even less coverage. For instance, in 2017 the cyber insurance market in India was $27.9 million, 0.04 percent of the total insurance premiums paid in the country that year.

From my research on cybercrime and cybersecurity over the past two decades, it is clear to me that cyberattacks have become increasingly sophisticated. The cyber insurance market’s extremely small size suggests that organizations and individuals might have underrated its importance. However, more and more internet users are finding reason to protect themselves. In 10 years’ time, insurance coverage for cyberattacks could be standard for every homeowner.

Who is buying cyber insurance?

Certain types of companies tend to have – or not have – cyber insurance. The larger the firm and the more closely it depends on computerized data, the more likely it is to have coverage against digital threats.

For a company, that can make sense, because a digital intrusion can cost hundreds of thousands or even millions of dollars to fix and recover from. For individuals, the costs of a breach are lower, but still significant – even as high as $5,000.

Regular people are far less likely to have digital protection than companies are. In India, personal cyber insurance is less than 1 percent of the total cyber insurance market. In the U.S. and elsewhere, most products are targeted at rich people. Insurers such as AIG, Chubb, Hartford Steam Boiler and NAS Insurance sell personal cyber insurance policies as add-ons to homeowners’ and renters’ insurance.

The insurance industry is doing more, too. A wide range of insurers such as Munich Re, AIG’s CyberEdge, Saga Home Insurance, Burns & Wilcox and Chubb all offer cyber insurance for individuals. These plans cover as much as $250,0000 to repair or replace damaged devices and to pay for expert advice and assistance if a cyberattack affects a policyholder. They may also include data recovery, credit monitoring services and efforts to undo identity theft.

Even health services may be included: AIG’s new product Family CyberEdge policy includes a coverage of one year of psychiatric services if a family member is victimized by cyberbullying. Also covered is lost salary if the victim loses a job within 60 days of discovering cyberbullying. Some insurers offer policies that provide help to assess policyholders’ data security practices and scan for cyberthreats.

Emerging dangers

Another cybercrime that’s becoming increasingly
even less coverage. For instance, in 2017 the cyber insurance market in India was $ 27.9 million, 0.04 percent of the entire policy premiums paid in the country that class. 

 From my research on cybercrime and cybersecurity over the past two decades, it is clear to me that cyberattacks have become increasingly advanced. The cyber indemnity market ’s highly humble size suggests that organization and individuals might have underrated its importance. However, more and more internet exploiter are line up reason to protect themselves. In 10 years ’ time, insurance coverage for cyberattacks could be standard for every homeowner. 

 Who is buying cyber policy? 

 Certain types of companies tend to consume – or not have – cyber insurance. The larger the firm and the more closely it depend on computerized data, the more likely it is to have coverage against digital threats. 

 For a company, that can cook sense, because a digital intrusion can cost hundreds of thousands or even millions of dollar to fix and recover from. For individuals, the costs of a breach are lower, but still significant – even as high as $ 5,000. 

 even people are far less likely to receive digital auspices than companies are. In India, personal cyber insurance is less than 1 percent of the entire cyber insurance market. In the U.S. and elsewhere, most products are targeted at full-bodied people. Insurers such as AIG, Chubb, Hartford Steam Boiler and NAS Insurance sell personal cyber insurance policies as add - ons to homeowner ’ and renters ’ insurance. 

 The insurance industry is doing more, too. A wide scope of insurers such as Munich Re, AIG ’s CyberEdge, Saga Home Insurance, Burns & Wilcox and Chubb all offer cyber insurance for individuals. These plans brood as much as $ 250,0000 to repair or replace damage devices and to pay for expert advice and assistance if a cyberattack affects a policyholder. They may besides include data recovery, credit monitoring services and attempt to undo identity larceny. 

 Even health services may be included: AIG ’s new product Family CyberEdge policy admit a coverage of one year of psychiatric services if a family member is victimized by cyberbullying. besides covered is lost salary if the victim miss a job within 60 days of discovering cyberbullying. Some insurers offer policy that provide help to tax policyholders ’ data security system practices and scan for cyberthreats. 

 Emerging dangers 

 Another cybercrime that ’s becoming increasingly
 evfn less coverage. For insuance, in 2017 the cybgr insurence madket in Kndia was $27.9 million, 0.04 percent lf the ujtal insurance preoiums paif in the couitry that year.

From my research ln cvbxrcrime and cybgrsecurity oeer the past tfo dzcades, it is clear to me that cyberaetacks nage become incrgasinbjy skihlsticated. The cyber insurance madket’s eqtremely small siae suggests that organizatlons and individuals mlght have ubderwqted its impurtance. However, more ahd more internet users are findkng rzason to pritwct jhemselves. Ii 10 yeags’ time, insurance covarage fpr cyberattackx cmule be standard for evecy homeowner.

Who is boying cybes nnsurance?

Certain typew if cokpanhes gwnd to heve – or nlt iave – cyber insurance. Rhe larger the firm age the more clksely yt depends on computerized data, the more niksly it is to have coverqge against digital tjreats.

For a company, that can make sense, because a digital hntruakon cwv clst hundreds of thousands or even millions of soklsrs to fix and recover frpm. Fpt individuals, jhe cosca kf a breach are loaer, but stilo signifisant – even as high as $5,000.

Regular pwople are fag lews likely to have bigital protzction than companies are. In India, peraonal cyber insurancs is less than 1 pdrcvnt mf the total cyber insuranse market. In che U.S. avd eksewhewe, most prlducts are targeted at rlch pgople. Hnsurers skch as AIG, Chubb, Hartford Steam Boiler and NAX Hnslrance sejl pevsonal cyber infurance policigs as add-jns tu homeownegs’ and reiters’ insuragce.

The insuratfe industry ms doing iore, too. A wide fange of insurrrs such cf Mubich Re, AIG’s CyberCdge, Rzga Home Insurauee, Burns & Wilcox snd Chtbh ell osxer cyber invuravce gor ivdividuals. Bhere pkans cover as much av $250,0000 tk repair or replacr qamaged eevices wnd to pay fot expert advice anf assmstancx if a cyferattack affects a policyholdsr. They mwy wlso include datq recovery, cxedit monitoring services and efforts to undo identity thgft.

Even health servicgs kay be inclnded: AYG’s new psoduct Family CyberEege policy includts a coverage of one yezr of [sychlatric services if a family member is victimized by cyberbullying. Also cocered ms lost salarg if the niccim loses a jlu within 60 days of discovering cyberbullying. Some insurerv jffer policies that provide neup to assess kolicyholders’ data securitg practives and scan for cyberthreats.

Emrrging dangers

Another cynercrime rhat’s becomphg increasingly
even less coverage. For instance, in 2017 insurance in India $27.9 million, 0.04 premiums in the country year. From my on cybercrime and cybersecurity over the two decades, it is clear to me that cyberattacks have become increasingly sophisticated. cyber insurance market’s extremely small size suggests that organizations and individuals might have its However, and internet users are finding reason to protect themselves. In 10 years’ time, insurance coverage for cyberattacks be standard for every homeowner. Who is buying insurance? Certain types of tend to have – or have cyber insurance. larger firm the more closely depends on computerized data, the more likely it is to have coverage against digital threats. For a that can because a intrusion cost of thousands or of dollars to fix and recover the costs of a breach are lower, but significant – as high as $5,000. Regular people far less likely to have digital protection than are. In India, personal cyber insurance is less than 1 percent of the total cyber In the U.S. and most products are at people. such AIG, Chubb, Steam Boiler and NAS Insurance sell personal cyber insurance policies as to homeowners’ and renters’ insurance. The insurance industry is doing A range of insurers as Munich Re, AIG’s Saga Insurance, Burns & Wilcox all cyber These cover much as $250,0000 to or replace damaged devices and pay for expert advice affects a policyholder. They may also include data credit monitoring services and efforts to undo theft. Even health services may be included: AIG’s new product Family CyberEdge includes a one year of psychiatric services if a family is victimized by cyberbullying. covered is lost salary if the victim loses a within days of cyberbullying. Some insurers policies that provide to assess policyholders’ practices and for Emerging that’s becoming increasingly
 even less coverage. For instanCe, in 2017 the cybEr insUraNce MaRket In InDia was $27.9 million, 0.04 pERcenT of the total insurance prEmiumS pAId in THe CountRy that yEAr.

fROm mY rEsEarCh ON cYbercRimE and cybErsecurity OveR tHe past two decADeS, it is clear To mE that cyberatTacKs have BeComE IncreAsiNgly sOphistICated. THe cyber inSuRAnce maRKet’s extREMeLy smAll size suggests thAT oRGanizations and IndiviDuALs MIGht HavE underrateD iTs impORtance. HOWeVER, MorE And more internEt users are fINdiNg reasOn To pROtect tHemseLvES. In 10 Years’ time, inSuraNce coveraGe for cYBerattaCKs could Be stanDarD foR eveRY hOmEowNeR.

who IS bUyiNG cyBer insurAnCe?

certaIn tyPES OF comPanIes tEnd to Have – or not have – CybEr inSUraNce. ThE largEr thE fIrm anD the moRe cloSeLy it depends on coMputErized datA, thE mOre LiKely iT Is to haVe cOveRage agaInst digITal ThREATs.

for a company, that can MaKE SeNse, becauSe a digITaL iNTrusion cAn CosT hunDREds of ThouSAnDs or even MillioNS oF dOllars tO fIx and rEcOveR frOm. For INdivIduals, The costs Of a brEAch are lower, but STill significaNT – eVEN aS High As $5,000.

REgular peoplE are FAr leSs liKElY to HAve diGital PrOTeCTion than companies arE. IN India, PersoNal cyber insurAnce is less THAN 1 percent Of thE ToTAl cyber insuranCe marKet. In the U.S. ANd elsewhEre, moSt producTs are targETEd at rich PeoPle. insUreRS SuCh as AIG, Chubb, HARTforD STeam BoiLer And NAS INsuRanCe sEll PeRsonal cybEr insuraNcE pOlIcIes As add-ONs to homeOwNerS’ aNd rEnterS’ InsuraNce.

ThE insUrAnCE inDustry iS DoING morE, tOo. a widE raNgE of inSureRS suCh as MunIch Re, AIG’s cybEREdgE, SAgA Home InSurance, Burns & WIlCox and ChubB aLl oFfer cyBER insuranCe for individuals. These plANs cover As mUch as $250,0000 To rePair or repLacE damagEd dEVices aNd to paY for eXpErt ADVice aND AsSisTaNce if a cybeRATtaCk affEcTs a pOlicyhoLder. They may also incLUde Data recovery, cRedIt moNIToRinG SeRVicEs ANd eFFOrts to undo identIty theft.

EvEn HEaLth serviceS May Be IncludeD: AIG’s neW prodUCt FamilY CyberEdgE policy inClUdes A COveRage of one yEar of psyChiatric sERviceS If A famiLy mEmber iS vIctImizeD by cybERbuLlyinG. Also cOvEred is Lost sAlAry if the Victim loses a job within 60 daYs of diScoveRinG cyberbulLyiNG. SoMe insurerS offEr policies ThaT prOvide HelP To assEss pOLiCyhOLders’ Data SEcurity prACtIceS ANd Scan for cybeRTHReaTs.

EmeRgiNG dangeRs

AnOther cybercrime thAT’s becoming incrEasiNGLy
 even less coverage. For i nstance, i n 201 7 t hecy berinsu rance market i n  Ind ia was $27.9 million,0.04pe r cent of  thetotal i n su r a nce  p re miu ms pa id in  th e count ry that ye ar. 
From my rese a rc h on cyber cri me and cyber sec urityov ert he pa sttwo d ecades ,  it is  clear to  m e  thatc yberatt a c ks  hav e become increasi n gl y  sophisticated . Thecy b er i nsu ran ce market’ sextre m ely sma l ls i z e s u ggests that o rganization s  an d indi vi dua l s migh t hav eu nde rrated itsimpo rtance. H owever ,  more a n d moreintern etuse rs a r efi ndi ng rea s on  to pro tect the ms el ves.In 1 0 y e ars’  ti me,insur ance coverage  fo r cy b era ttack s cou ld b estand ard fo r eve ry  homeowner.

Wh o is  buying c ybe rins ur ance? 
Certa intyp es of c ompanie s  te nd t o  h ave – or not have–c y be r insura nce. T h ela r ger thefi rmandt h e mor e cl o se ly it de pendso nco mputeri ze d data ,the  mo re li k elyit isto havecover a ge against dig i tal threats.Fo r ac ompa ny,  that can m akes ense , be c au sea  digi tal i nt r us i on can cost hundred sof tho usand s or even mil lions of d o l l ars to f ix a n dr ecover from. F or in dividuals, the cost s ofa breach  are lowe r ,  but sti llsig nif ica n t  –  even as high a s $5 ,0 00.

Re gul ar peop leare  fa r l es s likelyto havedi gi ta lpro tecti o n than c om pan ie s a re. I n  India , per sona lcy b erinsuran c ei s  les sth an 1  pe rc ent o f th e  to tal cyb er insura nce mark et .In theU.S. and else wh ere, mostpr odu cts ar e targeted  at rich people. Insure r s suchasAIG,Chub b, Hartfo rdSteamBoi l er and  NAS I nsura nc e s e l l per s o na l c yb er insuran c e  po licie sas a dd-onsto homeowners’ and ren ters’ insuran ce. 

Th e in sur a nc e  in du s try i s doing more, t oo. A wide  r a ng e of insur e rssu ch as M unich R e, AI G ’s Cybe rEdge, Sa ga Home I ns uran c e , B urns & Wil cox andChubb all offer cy ber i nsu rancefo r i ndivi duals. The se pl ans co ve r as m uch a s$250,000 0 to repair or replacedamage d dev ice s and topay for  expert a dvic e and assi sta nce  if a  cy b eratt acka ff ect s  a po licy h older. Th e ymay a ls o include d a t a  re cover y,c reditmoni toring services a n d efforts to u ndoi d ent ity thef t. 

Even healthser vi c e s may be  i ncluded: AI G’s newpr o ductFamily  Cyber Edge po l i cy includ es a  co verage of  on ey ear ofps yc h iatric  ser vi ces if  a fam i ly m e m ber is victimize d byc y berbu l lyi ng. A ls o cover e d is  lost sala ry if the v ictimlose s a j ob with in  60 da ysof  discoveri n g cyberbu llyin g. Some  i nsur ers  offer  pol i c ies t hatpr ovi de help t o as s es sp oli cyho lders ’data  security practice s a n d scanfo r c y b erthre a ts . 
Emergingdan gersA nother cyb e rcri m et hat’s  becom ing in creasin g ly
 even_less coverage._For instance, in 2017_the cyber_insurance_market in_India_was $27.9 million,_0.04 percent of_the total insurance premiums_paid in the_country_that year.

From my research on cybercrime and cybersecurity over the past two decades, it_is_clear to_me_that_cyberattacks have become increasingly sophisticated._The cyber insurance market’s extremely_small size_suggests that organizations and individuals might have underrated_its_importance. However, more_and more internet users are finding reason to protect_themselves. In 10 years’ time, insurance_coverage for cyberattacks_could_be_standard for every homeowner.

Who_is buying cyber insurance?

Certain types of_companies tend to have – or_not have – cyber insurance. The larger_the firm and the more closely_it depends on computerized data,_the more_likely it is to have_coverage against digital_threats.

For a_company, that can_make sense, because a digital intrusion_can cost hundreds_of thousands or even millions of_dollars_to fix and_recover_from._For individuals,_the costs of_a_breach are_lower,_but still significant – even as_high_as $5,000.

Regular people are far less likely_to have digital protection_than_companies are. In India,_personal cyber insurance is less_than 1 percent of the total_cyber insurance_market. In_the U.S. and elsewhere, most products are targeted at rich people._Insurers such as AIG, Chubb, Hartford_Steam Boiler and NAS_Insurance sell_personal_cyber insurance policies_as_add-ons to_homeowners’ and renters’ insurance.

The insurance industry is_doing more,_too. A wide range of insurers_such as Munich Re,_AIG’s_CyberEdge, Saga Home Insurance, Burns &_Wilcox and Chubb all offer cyber_insurance for individuals. These plans_cover_as_much as $250,0000 to repair_or replace damaged devices and to_pay for expert_advice and assistance if a cyberattack affects_a_policyholder. They may also include data_recovery,_credit monitoring services and efforts to_undo_identity_theft.

Even health services may be_included: AIG’s new product Family CyberEdge_policy includes a coverage of one year of psychiatric_services if a_family member is victimized by_cyberbullying._Also_covered is lost salary if the victim loses a job_within 60_days of discovering_cyberbullying. Some insurers offer policies that provide help to assess_policyholders’ data security practices and scan for_cyberthreats.

Emerging dangers

Another cybercrime that’s becoming increasingly