Insurance News reports the recent slow-down in cyber insurance rate increases may soon be over.
“’All of the markets are telling us that pricing is going to go up, but no carrier has taken the plunge,’ said Jennifer Wilson, senior vice president, national cyber practice lead at Newfront,” the tech-enabled brokerage.
Wilson predicted accelerated premium increases could begin in as soon as eight months. However, she projected that due to improved underwriting by the industry, future increases in premium growth rates will not match the explosive increases of recent years.