The Source for Cyber Insurance News, Insights and Data
“Coalition continues to expand its capacity relationships and cyber insurance business in a market that is highly dynamic. Coalition year-over-year revenue grew by more than 400% in 2021 as the company scaled to serve 140,000+ customers. Coalition’s run rate GWP (gross written premium) now exceeds $650 million, as the company achieves high growth at scale.” … Read more
“(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 from Marsh expert @mscheincicclcs… Source: Cyber Insurance to Protect Against Cyberattacks
“Nearly 60% of cannabis businesses say they haven’t taken the necessary steps to prevent cyberattack, but the winds are changing…” Source: 2022 Cannabis Industry Outlook: Your Business’ Future Depends on its Risk Management – Cannabis Industry Journal
“(A)” sizable portion of small business owners think they are less at risk for such (cyber) attacks. According to a forthcoming study conducted by Embroker, 63 percent of small business owners believe they are unlikely to face a ransomware attack. The same study showed that only 28 percent of these business owners have coverage for … Read more
File this under “important if true.” We put limited credence in the specifics of market reports such as these, but the combined trendlines produced by these various reports indicate rapid growth of the cyber insurance sector, which is consistent with recent historical results and the expectations of informed market participants. “The global cyber insurance market … Read more