From Fortune:

1. Cyber-insurance, now $10 billion market, blurs lines with war coverage. Insurers, wary of Ukraine and Gaza wars, predict “significant” 2024 hacking increase. NotPetya virus caused $10 billion in damages.
2. Woodruff Sawyer survey finds gloomy outlook as 56% of clients see “great increase” in cyber risks. NotPetya attacked global companies “way beyond Ukraine”, spelling potential for sector-wide problems.
3. Ukraine war causes cyber policy landscape to suffer “significant shift”, leaving insurers “super concerned” and clients confused about coverage.
4. Federal regulations complicate matters further with SEC requirement for firms to disclose hack within 4 days, heightening risk and increasing vulnerability to negative publicity. Insurers monitoring effects closely.



Read more: $10 billion cyber-insurance sector fears war, AI, ransomware ahead