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“’You all heard the horror stories in ’22 about 150% increases in premium,’ said Bryan Hurd, Seattle-based vice president of Aon cyber solutions…’Now, the market has actually softened,’ he said,…
Read More “Time for Gov Agencies to Lock in Lower Cyber Insurance Costs: AON ” »
At-Bay reports the policy pricing cycle turns much faster for cyber coverage than many other kinds of risk. “Based on our data and exemplified in the chart above, there is…
Read More “Watch Out: The “Hard Cyber Insurance Market” Is Coming Back, Says At-Bay” »
“David Molony, Head of Aon’s Cyber Solutions for EMEA, acknowledges the significant shift in market dynamics, stating, ‘Where businesses were constrained by availability in 2021 and into 2022, it is…
Read More “Cyber Insurance Becoming Buyer-Friendly: Aon. Really & Will It Last? ” »
Fitch Ratings predicts 2023 will be another strong year for the industry. Though premium-rate increases continue to decelerate, demand remains high, building on trends over recent years. “Fitch estimates industry…
Read More “Cyber Insurance is Our Business & Business is Good” »
“The cost of cyber liability insurance has surged in recent years. The premium for Minneapolis Public Schools’ policy rose from $42,000 last year to more than $63,000 this year, and…
Read More “Ransomware Attack on Minneapolis Schools Highlights Increase in Cyber Insurance Costs ” »
Marsh notes global cyber pricing rose 28% in Q42022, slowing compared to 53% the prior quarter. But rates and volatility remain high enough to keep providing tailwinds for captive structures,…
Read More “Marsh Bullish on Cyber Captives Despite Moderating Cyber Insurance Prices” »
“While UK government scheme Cyber Essentials works to protect SMEs from cyber risks, it can provide a false sense of security that firms are completely protected,” reports Insurance Times. Very…
Read More “UK Gov Offers Cyber Insurance — “Appalling” or “Good Step?”” »
“(T)he cyber rates continued to accelerate at 28%, although that is a deceleration in rate increase in the last quarter we saw 53%,” said Martin South of Marsh & McLennan…
Read More “Cyber Re Rates Still Growing, But Not as Fast: Marsh & McLennan ” »
We told you about Beazley’s CAT bond and then its listing on the Bermuda exchange. This development in ILS is generating some optimism among those who fear devastating, system-wide damages…
Read More “Beazley’s New $45m “Cyber Cat Bond” May Be Sign of Things to Come: Information Week ” »
“’Based on a very healthy budget, we were able to check every box and keep our premiums to an increase of only 46% as opposed to the 103%,’ (ChristianaCare CISO…