Moody’s predicts cyber insurance market growth amid premium decreases, outlines uptake of ‘advanced’ cyber practices

The cyber insurance business is experiencing rate decreases and expected to flourish in coming years, according to a recent report from Moody’s Ratings, while insurance and finance entities race to incorporate advanced cyber practices within their own organizations.

“The cyber insurance market is poised for significant growth over the next few years as cyberattacks continue to grow in number and sophistication with the potential to cause significant financial and reputational damage and disrupt business operations,” Moody’s says in a ...