The Source for Cyber Insurance News, Insights and Data
Cyber insurance premiums will grow “15% to 20% per year to a total of about $23 billion by the end of 2026, up from about $14 billion at the end of 2023,” estimates S&P Global Ratings report “Cyber Insurance Market Outlook 2025: Cycle Management Will Be Key To Sustaining Profits.” [Don’t tell Swiss Re, which … Read more
You needn’t go far to find market projections of dramatic growth for the cyber insurance industry, such as this recent estimate of 22.60%CAGR from 2022 to 2030. Not so fast (pun intended) says Swiss Re in its new report “Reality Check on the Future of the Cyber Insurance Market,” which predicts growth of “just” 8% … Read more
The Company‘s new business unit, Envelop Risk Solutions, will provide technical assistance to reinsurance providers “across the full capital management spectrum, including: cyber underwriting and underwriting strategy, cyber modelling, scenario modelling, capital metrics, cyber market analytics, new product development, threat intelligence, reinsurance operations automation, and global cyber risk forecasting.” “We have developed advanced capabilities to … Read more
We’re fans of research from RPS/Risk Placement Services, the brokerage and MGA. Early this year, the firm predicted a correction in cyber pricing driven by factors such as increased fraud perpetrated by AI. But in its 2024 Q3 Cyber Market Update, RPS concedes the “market hardening” and price increases have not yet occurred. “Since the … Read more
In the world of cybercrime, few experiences are as frustrating as paying a ransom to recover stolen data only to remain empty-handed. This stark reality is highlighted in the issue of ransomware data recovery where recent studies reveal that 1/3 of ransomware victims did not recover data even after paying up. For individuals and businesses, … Read more