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Getting Personal: Cyber Insurance for Individuals

According to the Pew Research Center, 64 percent of Americans have an online account involving health, financial or other sensitive data. As more and more people rely on the internet to do business and manage their personal lives, their information has the potential to become susceptible to a cyberbreach.

With this in mind, a new form of insurance has emerged – Personal Cyber. Insurance Market Source connected with one of its pioneers, Bill Gatewood, Corporate Vice President and Director, Personal Insurance, Burns & Wilcox, to learn more about Personal Cyber coverage.

Q: What is a Personal Cyber policy and why should individuals consider this coverage?

Bill Gatewood (BG): For the last several years, cyber exposure has been a growing issue in the commercial world. In the light of several high-profile security breaches…