The Source for Cyber Insurance News, Insights and Data
The cyber insurance market is stabilizing as cyber underwriting practices and pricing models mature. Rate volatility is decreasing, and coverage options are expanding. A new report from Risk Placement Services (RPS) highlights key trends shaping the market in early 2025. It touches on cybersecurity, data breaches, ransomware, AI-powered cyberattacks, and AI as a defensive tool, … Read more
NetDiligence has unveiled its fourteenth annual Cyber Claims Study, offering a comprehensive analysis of over 10,000 cyber insurance claims reported between 2019 and 2023. The report highlights emerging trends in cyber risk across a wide range of industries, focusing on the financial burdens faced by organizations, particularly small to medium-sized enterprises (SMEs). This year’s study, … Read more
Cyberattacks are becoming increasingly common and costly. In 2017, one of the largest cyber insurance claims ever paid was a whopping $100 million, paid out to Mondelez International. Mondelez is a multinational confectionery, food, and beverage company with brands such as Oreo, Cadbury, and Trident. $100 million claim The cyberattack on Mondelez was a ransomware … Read more
The report focuses on how cyber insurance applicants can avoid future claims nightmares by answering underwriting questions accurately. It also suggests applicants carefully consider the interaction of cybersecurity coverage with related exposures such as the protection of personal information. But a more fundamental issue exists, suggest one cyber insurance claims officer. “James Berry, London-based chief … Read more