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Cyber Premiums Drop 6% in 2024 Amid Pricing Weakness According to Fitch Ratings, cyber insurance premiums in the U.S. dropped 6% in 2024, marking a second consecutive year of declines. This after surging 160% between 2020 and 2022. Despite the dip, the sector continues to generate substantial profits. Demand for cyber coverage remains high. However, … Read more
Fitch Ratings reports that US cyber insurance premium rates continue to decline for the third consecutive quarter. Premiums are expected to remain under pressure unless a major cyber event occurs. In 2024, cyber insurance remained profitable. However, direct written premiums fell for the second year. The drop stemmed from reduced rates and fewer active policies. … Read more
After several years of exponential growth in the cybersecurity insurance market, a surprising shift occurred last year in cyber liability insurance premiums, according to a report from Fitch. “U.S. statutory direct written premiums for cyber coverage in standalone and package policies declined for the first time on record in 2023 by a modest 2%. This … Read more