Cybercrime is one of the hottest stories in the media.
In the UK, the Office for National Statistics (ONS) reported 5.6 million incidents of fraud and cybercrime last year. Insurers have responded to cybercrime in the commercial and SME sector, developing a new line of business considered to have great growth potential. Often overlooked, cyber insurance for the individual and their family is a significant untapped opportunity too.
As well as risks from fraudsters after their cash, other risks include online bullying, the loss of memories, damage to connected devices and online/media liability. UK General Insurance, specialist personal lines provider, together with cyber market specialists Munich Re, will discuss the changing face of insurance and explore the application of cyber liability to the personal lines market.