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Cyber Liability Market and Assessment Vendor Market Both Growing, Says Novarica

With the U.S. cyber liability market growing at a faster rate than other commercial lines, insurers are interested in solutions that will help with the proper underwriting of cyber liability. In a new report,  Cyber Risk Assessment: Overview and Prominent Providers, research and advisory firm Novarica provides an overview of cyber risk assessment and potential concerns, as well as information about 11 cyber risk assessment solutions, including those from BitSight Technologies, CyberCube, CyberWrite, FICO, Guidewire, ISO/Verisk, Kovrr, RMS, SecurityScorecard, Surance.io, and Willis Re.

"It is still a struggle for actuaries and underwriters to get a true picture of exposures even though insurers have been writing cyber liability coverages for some time," said Jeff Goldberg, Executive Vice President of Research and Consulting, and co-author of Novarica's new report. "As a result, underwriting has tended towards conservatism-with exclusions and limits on coverage. Nevertheless, the market is growing faster than other commercial lines; insurers should take advantage of available analytics and modeling solutions."

Please contact media@novarica.com or call Victoria Spitz at 833-668-2742 Ext. 130 for more information.

 


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