Cyber insurance first emerged as a niche commercial insurance product in the late 1990s, driven by the commercialization of the internet and early corporate exposures to data processing errors and online media liabilities. In its earliest form, policies primarily addressed basic third-party privacy liabilities and media exposures. Over the subsequent decades, as ransomware, large-scale data thefts, and sophisticated network attacks evolved, the market expanded dramatically to introduce comprehensive first-party operational coverage and mandatory cybersecurity underwriting standards.
1 votes
Marked as accepted