US data breaches could cost insurers $5bn a year: RMS

Insurers could pay out $5bn in cyber losses a year as a result of
data breaches to US firms, according to the latest RMS cyber model.
The $5bn figure was calculated on the basis that all US
companies had cyber insurance and only accounts for data breaches,
the most common form of cyber-attack.
The risk modelling and analytics firm estimated the figure using
its updated Cyber Accumulation Management System, which enables
firms to calculate attritional annual losses across cyber
portfolios,...