Exploring the Need for Standalone Cyberinsurance Products

May 30, 2017 - The cyberinsurance market has grown in the last few years, with the market currently estimated at $2.5 to $3.5 billion in annual premiums. The vast majority of premiums for cyberinsurance are from United States purchasers. Recently, Butler Rubin partner Daniel Cotter wrote a column for Law360, “Exploring The Need For Standalone Cyberinsurance Products,” addressing the issue of standalone cyberinsurance products and some of the standalone product’s potential benefits and legal challenges. Recently, some industry members such as JLT Re, JLT Specialty Limited and Allianz, have called for the insurance industry to be more active in developing standalone cyberinsurance products.

For more information on developments in privacy and cybersecurity, contact Dan Cotter at dcotter@butlerrubin.com.