Technology brings a new range of threats to both tangible (e.g. property) and intangible (e.g. reputation) assets, many of which are not covered by established insurance policies, leaving organizations of all types dangerously exposed to the impact of cyber perils.

Cyber insurance, as it has historically been defined, has focused primarily on digital assets, such as customer data. However, with the scale, frequency and impact of cyber-incidents increasing, many traditional insurance lines, like home, property, energy and aviation, are transitioning by proxy to cyber insurance.

Our discussions with industry with industry experts support this trend and predict that the cyber-insurance sector is undergoing several waves of development to expand from digital assets to encompass physical assets, as well as other asset classes, such as reputation, intellectual property and business interruption.

Rethinking insurers' strategies and structures in the digital age