Jun 30, 2017

06/30/17: Battling a cyber attack…with an insurance policy

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As this week's massive cyber attack continues to play out in more than 70 countries, we're looking at one area in which it could engender growth — the cyber liability insurance industry. Currently valued at 4 billion dollars annually, it's expected to reach 20 billion in coming years. But what exactly does a cyber liability policy cover? We talk to Smita Bhargava,  vice president of programs and special risk for the insurance company Clements. They're seeing an increase in inquiries about whether cyber liability policies would cover events like this week's attack. Plus, quiz yourself on the latest tech news in this week's installment of Silicon Tally featuring Katherine Gorman, co-host of artificial intelligence podcast The Talking Machines.

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Kidnapping and extortion insurance — for your computer

Jun 30, 2017
Insurance companies are offering cyber polices for when your data is the hostage.
Rob Engelaar / Getty Images

As this week’s massive cyber attack continues to play out in more than 70 countries, we’re looking at one area in which it could engender growth — the cyber liability insurance industry. Currently valued at 4 billion dollars annually, it’s expected to reach 20 billion in coming years. But what exactly does a cyber liability policy cover? We talk to Smita Bhargava,  vice president of programs and special risk for the insurance company Clements. They’re seeing an increase in inquiries about whether cyber liability policies would cover events like this week’s attack. Plus, quiz yourself on the latest tech news in this week’s installment of Silicon Tally featuring Katherine Gorman, co-host of artificial intelligence podcast The Talking Machines.

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