The Source for Cyber Insurance News, Insights and Data
Cyber insurance rates dropped 5% in the US and 7% globally in Q4 2024, according to Marsh’s Global Insurance Market Index. The market benefited from abundant capacity, with new capital expected in 2025. Many companies reinvested premium savings into higher coverage limits and lower retentions. Claim volume increased, with over 2,000 US cases related to … Read more
Adaptive cyber insurance provider Cowbell has launched Cowbell Resiliency Services (CRS) to help U.S. businesses address increasingly sophisticated cyber threats. The new unit provides policyholders with advanced cybersecurity services, including Managed Detection and Response (MDR), Penetration Testing, Cloud Identity Monitoring, and Cybersecurity Training. Cyber Threats Are Escalating AI-driven cyberattacks and geopolitical tensions have increased security risks. The … Read more
According to Woodruff Sawyer & Co.’s annual survey released Monday, 58% of cyber insurers expect cyber risk will increase “slightly” in 2025. This marks an increase from 44% in 2024 but remains lower than 74% in 2023. Cyber insurance rates dropped for many businesses in 2024, with 66% of Woodruff Sawyer clients experiencing cost reductions. … Read more
CFC has added property damage coverage to its $30 million large line size cyber insurance product. The expansion addresses growing cyber risks affecting physical assets in industries like manufacturing and energy. New Coverage Addresses Cyber-Related Property Damage CFC’s updated cyber policy now includes physical property damage caused by cyber events. The addition fills a coverage … Read more
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has appointed James Porter as the Lead Underwriter for its UK middle market segment. Porter will be responsible for underwriting and managing cyber insurance policies for SMEs and mid-sized businesses. News of note: Given our coverage of this Association of British Insurers (ABI) report … Read more