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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 ” »
“(Adam Lantrip of brokerage CAC Specialty) now budgets four to six months for its clients to clear all the hurdles needed to renew their plans. ‘It’s getting almost to a…
Read More “As Cyber Premiums Go Up, So Does Underwriting Time: Wall Street Journal ” »
“’Even if UK SMBs do become more concerned about their business being targeted by cybercriminals, they are unlikely to be willing to pay even higher premiums to protect themselves,’ said…
“Globally, commercial insurance rates increased by 9% on average in the quarter, he said. In North America, commercial rates increased 8% overall, with retail property insurance rates rising 14%. Lexington,…
Read More “AIG Net Income Up YoY; Cyber Insurance Rates Almost Double” »
“The vendor-agnostic survey of 5600 IT professionals, conducted by Vanson Bourne, found that 98% of businesses hit by ransomware had cyber insurance that covered ransomware and that the policy paid…