Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance. The traditional actuary models do not apply well to an environment where highly motivated, creative, and intelligent attackers are dynamically pursuing actions that cause insurable events. Accurate estimation of losses is key to determining customer premiums. But even after … More
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