Warren Buffett and Ajit Jain of Berkshire Hathaway warn of potential huge losses in the cybersecurity insurance market due to inadequate data and risk analysis.
Warren Buffett and Berkshire Hathaway's top insurance executive, Ajit Jain, warn of potential "huge losses" in booming but tiny cybersecurity insurance market. Despite Buffett's harsh words, Berkshire Hathaway is the sixth-largest issuer of cybersecurity policies in the U.S. with only 1% of all policies written. They expressed concern about agents signing up clients without proper actuarial data and risk analysis.
May 31, 2024
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