Cybersecurity insurance transfers some of the financial risk of a security breach to the insurer. First-party insurance typically covers damage to digital assets, business interruptions and, sometimes, reputational harm. U.S. market is growing about 30 percent per year, says Richard Betterley, president of Betterley Risk Consultants. Insurance should encourage companies to improve security so they can negotiate lower premiums, says Betterley. Insurance doesn’t do a good job of covering intellectual property theft or the damage and business downturn.”]