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Strong demand for cyber coverage and rising SME adoption support a stable outlook – AM Best has reaffirmed its stable outlook for the Global Cyber Insurance Market, citing persistent demand and solid growth drivers. This analysis is based on the newly released report, “Market Segment Outlook: Global Cyber Insurance.” The report notes “systemic risks from … Read more
In a digital landscape increasingly fraught with cyber threats, AM Best has provided a measure of stability by assigning a stable outlook to the global cyber insurance segment, reflecting steady progress in managing risks. This outlook is driven by increasing demand and promising intermediate-term growth prospects as take-up rates continue to improve. This is elaborated … Read more
We all knew the general trend reported by AM Best. Headline: “The U.S. cyber insurance market continued strong growth in 2022, with direct premium increasing by 50% to $7.2 billion and improving loss ratios given greater attention to underwriting discipline…” But the report, aside from adding details, notes some other important trends. “More than 70% … Read more
“The study, entitled ‘Spotlight on Cyber: A study of aggregation risk in the US property insurance market,’ noted that sufficient cyber risk is amassing in the market to trigger a one-in-100-year loss of $12.5 billion. The loss is so significant, that the study says it is enough to cause a downward transition of the Best’s … Read more