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Top News about Cyber Insurance
The global cyber insurance market is projected to grow from $9.35 billion in 2021 to $68.17 billion by 2030, at a CAGR of 24.1%, according to a new report by Verified Market Research. The growth is being driven by a number of factors, including: The report segments the global cyber insurance market by deployment model, … Read more
We’ve written about the growth of personal cyber insurance and the challenges associated with it. Major insurance carriers continue to pursue the business, concluding that trends from the COVID pandemic provide tailwind for the market. “’When commercial cyber losses started coming with frequency and severity, it wasn’t just the businesses who were hit by extortion … Read more
Arch Insurance has strengthened its foothold in the European cyber insurance market with the recent appointments of Jose Carlos Jiménez Fernández and Rafael Ortiz Losada as Senior Cyber Underwriters. Jiménez Fernández and Ortiz Losada will be part of the Arch Insurance (EU) dac team, specializing in property and casualty insurance solutions within the European Union. … Read more
The world’s largest public P&C insurance company, ticker “CB,” will enable $its 100m+ revenue clients to share cyber risk information via SentinelOne’s protection and response software. This is another example of insurers teaming with pure-play cybersecurity providers to increase the security of policy holders and improve underwriting and response. “‘The incorporation of SentinelOne’s endpoint protection … Read more
Insurers say ransom-related claims rose sharply in the first half of 2023, the Wall Street Journal reports in this article (paywall may apply). “Along with the rise in claims related to ransomware, the total amount paid to attackers has also increased, said Vishaal Hariprasad, Resilience’s chief executive. Citing figures from Chainalysis, which specializes in blockchain … Read more