Anyone Want Cyberinsurance?

from the maybe-not dept

It seems insurance companies are increasingly looking to offer cyberinsurance to companies afraid of getting hacked. The problem is that it’s unclear if anyone actually wants such a thing. Most companies don’t like to admit when they’re hacked – and it’s tough to determine the actual monetary damage caused by being hacked. Furthermore, since it’s all so new the insurance companies don’t really know how to price it. Either way, a lot of people seem to think that cyberinsurance will become more commonplace in the future.

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Comments on “Anyone Want Cyberinsurance?”

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Timaaay! says:

A good thing (TM)

Hacking insurance is a good thing — the rates that you are charged will depend (in part) on how secure your system is which will mean that there will be a monetary incentive to provide quality, secure software rather than feature bloat. Maybe a certain software company that starts with M, ends in t and has icrosof in the middle would then actually pay attention to security rather than just use it as a press release title…

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