“But after two years of premium increases, it appears rates are starting to moderate, contributing to the sense of cautious optimism about the future of cyber coverage. Attritional losses seem to be under better control, with the cyber market’s premium growth now exceeding incurred losses. As companies continue to focus on and improve their cyber hygiene controls, insurers can be expected to calibrate their underwriting and pricing strategies on an account-by-account basis — rather than on a portfolio-basis — and reward clients with strong cyber hygiene.”
Visit the Marsh report for useful detail and charts.
Source: Shifting cyber insurance market gives cause for cautious optimism | Marsh