In the insurance business we have not seen a risk to businesses as big as 'cyber theft' and 'cyber liability' in years.
Cyber crime costs reached $400 Billion in 2015 according to Lloyd’s of London. Forbes estimated that the annual cost of cyber crime will average $6 Trillion through 2021. Ginny Rometty, Chairman and President of IBM stated ”Cyber crime, by definition, is the greatest threat to every profession, every industry, every company in the world."
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