The Source for Cyber Insurance News, Insights and Data
Consistent with other recent reports, S&P Global Ratings finds global cyber insurance premiums surging, about $12 billion last year and headed to almost twice that by 2025. At the same time, increases in premium rates have moderated. The cybersecurity market has “returned to profitability,” accord to S&P. The news is less positive concerning reinsurers, which … Read more
Our headline is a bit sarcastic, but it captures the findings of a survey covering more than 300 enterprises by Delinea, a provider of Privileged Access Management (PAM) solutions. The report provides insights on cyber insurance cost and time required to get a policy. The survey reports that almost 80% of companies saw their cyber … Read more
So says a new Forrester report. “While Forrester data showed that most enterprises had some kind of cyber insurance coverage, only 26% had a standalone policy.” Read more here. This contrasts with reports, such as this one from AM Best, that “(m)ore than 70% of cyber premium is written on standalone policies…” The gap may … Read more
Insurance News reports the recent slow-down in cyber insurance rate increases may soon be over. “’All of the markets are telling us that pricing is going to go up, but no carrier has taken the plunge,’ said Jennifer Wilson, senior vice president, national cyber practice lead at Newfront,” the tech-enabled brokerage. Wilson predicted accelerated premium … Read more
The large European broker reports cyber insurance pricing is down some 9% so far this year, but ransomware incidents are up almost 50% YoY. So why the discrepancy? We think the lag between increases in ransomware attacks and growth in rates may be a significant part of the answer, as At-Bay noted earlier this year: … Read more