Cyber Insurance

Top News about Cyber Insurance

Samsung Fire & Marine Insurance Partners with Cyberwrite to Enhance Cyber Insurance Capabilities

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Strategic Collaboration to Strengthen Cyber Risk Assessment Samsung Fire & Marine Insurance (SFMI) has entered into a strategic partnership with Cyberwrite to bolster its cyber insurance offerings. This collaboration aims to enhance SFMI’s ability to evaluate the likelihood and financial impact of cyber threats across its insurance portfolio. Cyberwrite was selected following a global evaluation … Read more

Cyber Insurance Premiums to Increase after Marks & Spencer Cyber Attack?

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The Marks & Spencer hack — which might cost the retailer $400 million in profits, erased even more in market cap and could lead to cyber insurance claims of at least $133 million — is just one of three recent hacks of large British retailers. “At some point the increase in frequency and severity — … Read more

Marks & Spencer Hack Could Cost $400 million; CEO “In Shock”

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The hack of British retailer Marks & Spencer could reduce its profits over the coming year by £300m (more than $400 million), according to its recent report of financial results for the London Stock Exchange. This impact substantially exceeds the initial $133 million cyber insurance claim the company is expected to file. Marks & Spencer … Read more

US Cyber Insurance Market Sees 5% Rate Decline Amid Evolving Threats

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Cyber Insurance Rates Drop Amid Stable Market Conditions The US cyber insurance market saw a 5% average rate decrease in Q4 2024, continuing a trend of pricing stability. Marsh reported that favorable conditions are expected to persist into 2025. Companies improved their cybersecurity controls, which underwriters viewed positively. Organizations also adjusted their insurance programs. Many … Read more

U.S. Cyber Insurance Premiums Decline Again in 2024 | Fitch Market Update

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Cyber Premiums Drop 6% in 2024 Amid Pricing Weakness According to Fitch Ratings, cyber insurance premiums in the U.S. dropped 6% in 2024, marking a second consecutive year of declines. This after surging 160% between 2020 and 2022. Despite the dip, the sector continues to generate substantial profits. Demand for cyber coverage remains high. However, … Read more

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