The Leading Source for Cybersecurity Insurance News, Insights and Data
“According to a report released by Marsh LLC last week, average cyber liability rates increased 54% in July compared with 133% in December 2021. Cyber rate increases are slowing but…
Read More “Growth of Cyber Insurance Rates Slows — But Premiums Still Going Up ” »
[paywall] “Around 18 months ago, underwriters asked companies whether they required multifactor authentication when administrators accessed their system, said Tom Reagan, cyber practice leader in Marsh McLennan’s financial and professional…
“But after two years of premium increases, it appears rates are starting to moderate, contributing to the sense of cautious optimism about the future of cyber coverage. Attritional losses seem…
Read More “Cyber Insurance Market Stabilizing As Growth in Premiums Moderates: Marsh ” »
“Surveyed healthcare cybersecurity leaders reported leveraging multifactor authentication (MFA), identity and access management, and privileged access management (PAM) solutions in hopes of lessening the likelihood of a cyber insurance premium…
Read More “Threat of Higher Cyber Insurance Premiums Improving Security: Survey” »
Where do premiums end up? And with what controls and limits? “‘For all the work done by the cyber insurance marketplace to achieve rate, there still needs to be a…
Read More “Correction Coming in Cyber Insurance Premiums: Tokio Marine ” »
“Law firms have this treasure trove of information. Statistically, they’re about six times more likely to pay the first ransom demanded, rather than negotiate it…and I have to tell them,…
Read More “Who’s a “Radioactive” Customer for Cyber Insurers? Law Firms ” »
Standalone cyber policies now the majority… “Standalone policies are more often subject to claims, given that more-sophisticated clients with more data and financial resources typically purchase these policies. Despite the…
Read More “Underwriting Performance for US Cyber Insurance Improved Last Year: Reinsurance News” »
“Managing clients’ expectations suddenly became an even bigger part of the broker’s role, (Patrick Bourk, principal and national cyber practice leader at HUB International Ontario) explained, particularly when it came to…
Read More “A Growing Challenge for Cyber Insurance Providers: Managing Client Expectations” »
“The make-up of who buys cyber insurance has also shifted, wrote Marsh. Increased technology adoption and the associated heightened cyber risk has led to a significant increase in insurance buying…
“‘There are a lot of companies that have gone through renewals and ended up either becoming uninsurable or implementing some new controls just to get to the point of…
Read More “Water Companies Face Challenges Getting Cyber Insurance, Industry Expert Says ” »