The Source for Cyber Insurance News, Insights and Data
Cowbell has reported impressive growth in 2023, marking a 49% increase in its new customer base year-over-year. A significant financial milestone accompanies this momentum. The company secured $25 million in equity financing, reinforcing its leadership position in the ever-expanding cyber insurance sector. As cyber threats increasingly concern small- and medium-sized enterprises (SMEs), Cowbell focuses on … Read more
As in the US, the discussion turns on the threat of a catastrophic “systemic” cyber attack, which could generate $3.5 trillion in “global economic damage” according to a recent model prepared for Lloyd’s of London (which has been tightening its war exclusions.) The UK established a backstop decades ago for terrorism coverage after IRA attacks … Read more
In the third quarter of 2023, global commercial insurance prices continued their upward trajectory, increasing by 3%, mirroring the previous quarter’s data. This insight emerges from the latest Global Insurance Market Index released by Marsh. Notably, this quarter marks the 24th consecutive quarter of pricing escalation. Narrowing in on cyber insurance, a decrease appears. Globally, … Read more
In today’s digital age, cyber threats loom large, affecting businesses and individuals alike. While companies employ multiple layers of security to safeguard their operations, consumers often find themselves with limited recourse when it comes to cyber incidents. Usually, getting assistance only after a data breach or identity theft has occurred. Recognizing this vulnerability, TransUnion (NYSE: … Read more
The global cyber insurance market is expected to grow by $42.81 billion between 2022 and 2027, at a CAGR of 35.92%, according to a new report by Technavio. The market growth is being driven by a number of factors, including the rising incidence of cyberattacks, the increasing awareness of cyber insurance among businesses and individuals, … Read more