U.S. private cyber insurance market capable of managing most risks: study
The private cyber insurance market in the United States is capable of managing most risks, according to a new policy study from Washington, D.C.-based think tank R Street Institute.
Released on Thursday, the study from R Street senior fellow Ian Adams found that the market is growing at a rate of 26% to 50% per year. The U.S. insurance industry collected US$2.75 billion in cyber insurance premiums in 2015, a total that is expected to grow to US$7.5 billion by 2020. Overall industry capacity is currently estimated to be about US$500 million, R Street said in a press release.
