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Marsh analyzed its claims data and responses to customer self assessments. The resulting report may surprise some folks… “Automated hardening techniques — by a wide margin — have the greatest…
Fitch Ratings predicts 2023 will be another strong year for the industry. Though premium-rate increases continue to decelerate, demand remains high, building on trends over recent years. “Fitch estimates industry…
Read More “Cyber Insurance is Our Business & Business is Good” »
Huntress Labs, and MSP, had the survey conducted. It involved 256 “mid-sized businesses” with app. 250-2,000 employees each. “Carrying cyber insurance coverage was a key issue for respondents. While 69%…
Read More “Many Mid-Sized Companies That Are Required To Have Cyber Insurance Don’t: Survey ” »
Of those hit by ransomware attacks: “26% took the hardline approach of not paying any of the ransom demand. Another 11% chose not to pay themselves but allowed an insurance…
Read More “In 74% of Ransomware Attacks, the Crooks Got At Least Some $: Arctic Wolf Survey” »
The Prudential Regulation Authority (PRA), part of the Bank of England, asked 17 general insurers and 21 Lloyd’s of London syndicates to assess their solvency against a set of cyber…
The 2023 U.S. Cyber Market Outlook provides useful information on issues such as the regulatory environment, causes of cyber claims, industry break-downs and some predictions for 2023. It also affirms…
The survey includes useful info on a number of topics we discuss here, such as the difference between largeco/smallco cyber insurance purchasing and increased costs and difficulties in buying such…
Read More “Cyber Insurance Claim Rates & More in WSJ Pro Research Survey” »
This useful survey includes reasons companies buy cyber insurance (see below). It also notes that a third of respondents say their cyber insurance policies are written unclearly. Source: 2022 Advisen-Zurich…
Potential good news for cyber insurers: Awareness of need is high and perhaps sales will catch up to it… “Nearly 75% of respondents said they believe having a cyber insurance…
“While not appearing in the top 10 causes of loss, the number of cyber claims has significantly increased over the past few years, driven by the rise of threats such…
Read More “New Report Shows Growth of Cyber Claims: Allianz ” »