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Keep an eye on the role of Managing General Agents/MGAs (brokers with underwriting authority from carriers), says @CyberDanBurke. “Greater adoption of MGA capacity and the willingness of traditional cyber insurance…
Good summary, linked at bottom, from @ElanaAshanti based on detailed research from Adrian Mak @AdvisorSmith. We view the data as indicative/directional due to cohort of companies* analyzed (see below). Top…
“NetGuard® Select, Tokio Marine HCC – Cyber & Professional Lines Group’s stand-alone personal cyber insurance is rated and underwritten to make it accessible to other classes of risk, according to…
Read More “Personal Cyber Insurance Market Is Here: Tokio Marine” »
“(I)ncreases in deductibles, retention, sublimits, and co-insurance on ransomware payments, are making cyber coverage look more like health insurance.” Useful report from @natlawreview with collection of key cyber insurance metrics…
Read More “Is Cyber Insurance Starting to Resemble Another Major Insurance Category? ” »
“According to the Council of Insurance Agents & Brokers, cyber insurance premiums grew more than a quarter (25.5%) during that period. That’s well above the 17.4% increase witnessed by umbrella insurance…
“At a time when the need for cyber insurance has never been more clear, brokerages have spent much of 2021 decreasing coverage and increasing rates. But on Friday, tucked into…
Read More “Cyber Insurance Market Looks for New Approach, With Lloyds Downshifting on Coverage ” »
And it turned out the bidder was not even admitted to do business in Texas… “‘They were only able to find one company that would insure us on cyber liability…
Read More “Texas County Can Only Find One Bid for Its Cyber Insurance ” »
Most survey respondents said clients had been reimbursed for ransomware payments. One broker reported 30+ payouts in the first half of 2021. “Commercial insurance prices moderated across all account sizes…
Read More “Cyber Prices Soar 25.5% in Q2 as Ransomware Payouts Increase” »
“Howden’s research finds that global cyber insurance pricing has increased by an average of 32% year-on-year in June 2021 on the back of a 50% rise since data tracking began….
Read More “Global Cyber Insurance Pricing Increases 32% YoY (June): Howden Report” »
American International Group Inc (AIG.N) boosts cyber premium rates almost 40% globally and is now reducing coverage limits. “We continue to carefully reduce cyber limits and are obtaining tighter terms…
Read More “AIG: We’re Reducing Cyber Insurance Coverage Limits as Our Premiums Jump 40% ” »