The Source for Cyber Insurance News, Insights and Data
First-Ever In a first-ever, premiums for cybersecurity insurance coverage in the U.S. fell 2.3% in 2024, according to AM Best’s latest report. This marks the first recorded decline since 2015, with total direct premiums written now below $7.1 billion. The loss ratio remained below 50%, suggesting that cyber insurance continues to yield profits. The AM … Read more
With total premiums of $1.53 billion this year, the UK cyber insurance market will reach almost $3 billion by 2030, according to a May 2025 Markets and Research report. CAGR of 13.4% in Market The report attributes the growth of the British cybersecurity insurance market to increasing regulations and growing awareness of cyber threats among … Read more
The Marks & Spencer hack — which might cost the retailer $400 million in profits, erased even more in market cap and could lead to cyber insurance claims of at least $133 million — is just one of three recent hacks of large British retailers. “At some point the increase in frequency and severity — … Read more
Cyber Premiums Drop 6% in 2024 Amid Pricing Weakness According to Fitch Ratings, cyber insurance premiums in the U.S. dropped 6% in 2024, marking a second consecutive year of declines. This after surging 160% between 2020 and 2022. Despite the dip, the sector continues to generate substantial profits. Demand for cyber coverage remains high. However, … Read more
British retailer M&S (Marks and Spencer) is expected to make a cyber insurance claim of around £100 million (app. $133 million) following a hack that forced the company to stop taking onine orders and also exposed customer data, the Financial Times (FT) and other media sources report (paywall may apply.) Allianz & Beazley on Hook … Read more