Less than a decade ago, the majority of businesses felt that cyber insurance was ridiculous, as they believed they had strong network security and expert IT professionals to safeguard them. Their tune has changed dramatically in a few short years.
Cyber insurance has become particularly popular among businesses throughout the last year and a half, according to the cyber insurance product division of Aon Corp., vice president Brian Rosebaum. He explained that ‘We’ve reached a threshold where people are now coming to us instead of us going to them,” Insurance News Report says.