Cyber insurance has become a very fashionable space these days, said Ajit Jain, the vice chairman of insurance operations for Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK). Over the last few years, it has become at least a $10 billion market globally. Speaking at Berkshire Hathaway’s annual shareholder meeting in Nebraska, Omaha, on Saturday, Jain said that the profitability of cyber insurance is also reasonably high, around 20% of the total premium. However, he said Berkshire tends to be very careful when considering cyber insurance liabilities because: Knowing the quantum of losses subject t…
