The Source for Cyber Insurance News, Insights and Data
Mark Sauter The attacks are driving better underwriting and higher premiums with sustainable loss ratios, despite media reports of major disruptions and high ransoms. “In a way, the headlines are right — loss ratios have increased. But at a 67% loss ratio for 2020 (according to Aon), one year of losses in line with other typical lines … Read more
“Some ransomware gangs are even actively seeking to target victims with cybersecurity policies because they believe that’s the best way to guarantee they’ll make money from encryption campaigns:” reports ZDNet, based on the RUSI report you can read on CIN’s cyber insurance reports page. Source: Cyber insurance isn’t helping with cybersecurity, and it might … Read more
It addresses the problem of uninformed insurance pros trying to sell or price cybersecurity insurance, as discussed here. “We launched that product just over a year ago now, and it has been embraced in a way we would never have imagined, and I think the [cyber] broking space is really exciting right now,” he said. … Read more
“Howden’s research finds that global cyber insurance pricing has increased by an average of 32% year-on-year in June 2021 on the back of a 50% rise since data tracking began. Insurers are also demanding more from businesses’ cyber resilience and are only willing to deploy capacity if they are satisfied by the strength of companies’ … Read more
American International Group Inc (AIG.N) boosts cyber premium rates almost 40% globally and is now reducing coverage limits. “We continue to carefully reduce cyber limits and are obtaining tighter terms and conditions to address increasing cyber loss trends, the rising threat associated with ransomware and the systemic nature of cyber risk generally,” CEO Peter Zaffino … Read more