Cyber insurance rates fail to match catastrophe risk-Chubb CEO

July 28 (Reuters) - 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." (Reporting by Alwyn Scott in New York and Sohini Podder in Bangalore; Editing by Nick Macfie)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.