As the threat of a cyber attack against businesses has grown exponentially in recent years, so too has the cyber risk insurance market. According to Fitch Ratings, despite considerable uncertainty, the fast-growing segment is expected to generate $9 billion in premiums by 2019.

“Cyber risks are a broad peril affecting organizations of all sizes and in all market sectors,” said James Auden, managing director at Fitch. “Determining loss exposures from a cyber catastrophe is difficult as it requires an assessment of events that are feared but not yet experienced in reality.”