National Cyber Practice Leader
- Cambridge, MD
Much like a growing child, the cyber insurance market is maturing rapidly. Our team at Risk Placement Services has been involved with cyber risk coverage since its inception — active participants in this "parenting" process.
In the early years, maturity in the cyber insurance space was more evident in the rapid development of coverage grants designed to fill gaps left by traditional coverages, such as general liability, property, crime and various forms of professional liability. Today, maturity is demonstrated in underwriting discipline, changes in terms and conditions, capacity and pricing.
As cyber insurance reaches relative adolescence, the mood swings, the search for identity, irrational behavior, drained wallets and limit testing mirror what parents see in their own children's development. We now have a teenager in the house — get ready, the real fun is just beginning.