Cyber Insurance Rates Climb While Coverage Declines

The U.S. cyber insurance industry is now teetering on the edge of profitability, upended by a more than 400 per cent rise last year in ransomware cases and skyrocketing extortion demands. As a percentage of premiums collected, cyber insurance payouts now top 70 per cent, the break-even point…” Source: Cyber insurance rates likely to rise amid escalating ransomware attacks – Canadian Underwriter