The Source for Cyber Insurance News, Insights and Data
Marsh notes global cyber pricing rose 28% in Q42022, slowing compared to 53% the prior quarter. But rates and volatility remain high enough to keep providing tailwinds for captive structures, concludes the firm. Most growth in Marsh captives comes from single-parent captives and cells, Marsh reports. “In fact, between 2020 and 2021, 40% of new … Read more
“(T)he cyber rates continued to accelerate at 28%, although that is a deceleration in rate increase in the last quarter we saw 53%,” said Martin South of Marsh & McLennan during an earnings call on Jan. 26th. Source: Marsh & McLennan Companies, Inc. (MMC) Q4 2022 Earnings Call Transcript
“But after two years of premium increases, it appears rates are starting to moderate, contributing to the sense of cautious optimism about the future of cyber coverage. Attritional losses seem to be under better control, with the cyber market’s premium growth now exceeding incurred losses. As companies continue to focus on and improve their cyber … Read more
“The make-up of who buys cyber insurance has also shifted, wrote Marsh. Increased technology adoption and the associated heightened cyber risk has led to a significant increase in insurance buying by power and utilities and manufacturing companies. Purchasing by more traditional buyers, such as retailers and financial institutions, has declined mainly due to capacity reductions … Read more
“New research by Marsh and Microsoft identifies 8 key trends that leaders from all departments should align on and prioritize for 2022 and beyond.” Source: The State of Cyber Resilience