Cyber insurance rates fail to match catastrophe risk-Chubb CEO

Rising prices of insurance against cyber attacks fail to account for the potential catastrophic effects of a widespread attack, Chubb Ltd. Chief Executive Evan Greenberg said on Wednesday.

"The pricing environment is pretty good," Greenberg said on a conference call. "But ... that is not addressing by itself, the fundamental issue.... Like pandemic, cyber has a catastrophe profile to it."