Cyber Insurance Reports

75% of Respondents Know They Need Cyber Insurance, But Far Fewer Say They Have It: Travelers Risk Index 

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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 policy is critical, but the percentage who said their company has purchased coverage was 59%, up only 3 points from 2021.” Source: Travelers Risk Index … Read more

New Report Shows Growth of Cyber Claims: Allianz 

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“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 as ransomware attacks, but also reflecting the growth of cyber insurance. AGCS (Allianz Global Corporate & Specialty) has been involved in more than 1,000 cyber … Read more

Report Helps Gov Agencies Analyze ROI of Cyber Defenses/Insurance 

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“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 might draw down those costs. This lets officials estimate how much investing in a better backup system or in anti-phishing training, for example, might reduce … Read more

Cyber Insurance Market Penetration for Several Sectors: Moody’s Report

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“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 industry is below 46% in this category.” Source: Moody’s Report: Cybersecurity Investment Up, But Preparedness Remains Inconsistent – CPO Magazine

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