The Source for Cyber Insurance News, Insights and Data
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
Coalition, an Active Insurance provider, released its 2024 Cyber Claims Report, revealing that over half of all cyber insurance claims in 2023 were due to email-related fraud. The report, detailing emerging cyber trends and their impact on policyholders, found that 56% of claims stemmed from funds transfer fraud (FTF) and business email compromise (BEC), underscoring … Read more
After several years of exponential growth in the cybersecurity insurance market, a surprising shift occurred last year in cyber liability insurance premiums, according to a report from Fitch. “U.S. statutory direct written premiums for cyber coverage in standalone and package policies declined for the first time on record in 2023 by a modest 2%. This … Read more