Cyber Insurance Premiums

“Irresponsible Underwriting” Arises in Cyber Insurance Market As Capacity Increases & Premium Growth Moderates: Risk Placement Services

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Risk Placement Services (RPS), a national brokerage, calls itself “brokers in bold.” It recently presented its quarterly cyber update, including a report and presentations by RPS’ Steve Robinson, national cyber lead, Vice Presidents Tim Foody and Zach Kramer, and Jennifer Coughlin of Mullen Coughlin, “a law firm uniquely dedicated exclusively to representing organizations facing data … Read more

Cyber Insurers Doing Well, Cyber Reinsurers Not So Much: S&P

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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

Cyber Insurance May Cost More this Year, But at Least it Takes Longer to Get: Delinea

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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

Only a Quarter of Enterprises With Cyber Coverage Have Standalone Policies?

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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

Cyber Insurance Premiums Will Resume Faster Growth Next Year: Newfront

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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

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