Cyber Prices Soar 25.5% in Q2 as Ransomware Payouts Increase

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Most survey respondents said clients had been reimbursed for ransomware payments. One broker reported 30+ payouts in the first half of 2021.

“Commercial insurance prices moderated across all account sizes with an average increase of 8.3%, but cyber saw a premium hike of 25.5%, according to The Council of Insurance Agents & Brokers’ second-quarter Commercial P/C Market Survey released Tuesday.”

Source: Cyber prices soar 25.5% in Q2: CIAB | Business Insurance

Mark Sauter

Mark Sauter’s insights on the financial, policy and security elements of cyber insurance are based on years of experience in the investment banking, media and business worlds. Co-author of the McGraw Hill university textbook “Homeland Security: a Complete Guide,” Sauter was also a consultant to one of the world’s largest software companies and served as a US Army Special Forces and infantry officer.

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