The Source for Cyber Insurance News, Insights and Data
In the first quarter of 2024, the UK cyber insurance market has become increasingly buyer-friendly, characterized by abundant capacity and intense competition among insurers, according to Marsh’s report “Q1 2024 UK Cyber Insurance Report: Trends, Tips, and Strategies for Navigating the Digital Risk Landscape.” This competitive environment has driven significant rate decreases. “In the first … Read more
Amid a steady rise in costly cybercrime attacks targeting businesses, organizations seeking or renewing cyber insurance policies in 2024 are facing stricter security requirements from insurers looking to reduce risk exposure. According to Netwrix’s 2024 Hybrid Security Trends Report, 30% of insured organizations implemented additional security measures to qualify for a cyber policy this year, … Read more
InsightAce Analytic’s latest research reveals that the global cyber insurance market is on a significant growth trajectory, driven by escalating cybersecurity threats and regulatory mandates. Valued at $16.46 billion in 2023, the market is projected to soar to $90.26 billion by 2031, achieving a compound annual growth rate (CAGR) of 23.94% from 2024 to 2031. … Read more
Tivly, a two-sided marketplace that matches businesses to insurance providers, has launched its latest educational resource, “Facts About Cyber Liability Insurance.” Partnered with over 200 insurance agents, brokers, and carriers, Tivly aims to inform consumers about the significance of cyber liability insurance, addressing the causes and consequences of data breaches and how businesses can safeguard … Read more
We told you about Coalition’s findings on business email compromise (BEC), as reported in the managing general agent’s 2024 Cyber Claims Report. But we were also struck by the data on Fund Transfer Fraud or FTF. Both the frequency and severity of FTF claims increased from 2023 to 2024. Claims were up 15% YOY and … Read more