The recent growth in the cyber insurance market is already improving cybersecurity in some industry segments, and has the potential to do more — if the industry is able to address its data problem.
One area where cyber insurance has already made an impact is in the retail space, said David White, founder and COO at Axio Global, a cyber risk company.
After the 2013 Target breach, it became very difficult for retailers to get a decent price for cyber insurance unless they had completely switched over to end-to-end encryption, or had a definite plan in place for doing that.
