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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 ” »
“Officials can look at the probabilities of attacks succeeding and probabilities that these result in different depths of financial losses. Then officials can factor in how adopting different preventive measures…
Read More “Report Helps Gov Agencies Analyze ROI of Cyber Defenses/Insurance ” »
“Some of the cybersecurity investment increase is also going toward standalone cyber insurance; 65% of public sector organizations carry specialized cyber coverage, as do 57% of financial services companies. No…
Read More “Cyber Insurance Market Penetration for Several Sectors: Moody’s Report” »
“New research by Marsh and Microsoft identifies 8 key trends that leaders from all departments should align on and prioritize for 2022 and beyond.” Source: The State of Cyber Resilience
Market is up 74% YoY according to the report. “The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S.” Source: Rapid Cyber Premium…