The Source for Cyber Insurance News, Insights and Data
The UK government has released a landmark report on the nation’s cyber future. The study, A UK cyber growth action plan – final report, sets out a detailed growth plan and highlights urgent needs for resilience. It comes from experts at Bristol University and Imperial College London and was presented to Parliament this week. The … Read more
Cyber Claims in the UK See Second-Highest Spike on Record The UK cyber insurance market faced intense pressure in 2024. Marsh’s new cyber insurance report states that claims volumes hit the second-highest level ever. Although 2024 claims were 20% lower than 2023, they remained one-third higher than in 2020–2022. Ransomware attacks, supply chain breaches, and … Read more
A recent survey by the UK Home Office reveals that half of UK businesses have experienced cyber security breaches or attacks in the past year, underscoring the escalating digital risks they face. Phishing remains the most prevalent threat, affecting 84% of businesses, while medium and large companies report even higher rates of cyber incidents. As … Read more
In the business world, “the customer is always right” often holds true, but a new study suggests that mid-market companies in the U.K. are far from satisfied with their cyber insurance options. Coalition’s recent survey offers valuable insights into the experiences and perceptions of these cyber insurance customers. Conducted by Opinion Matters in February 2024, … Read more
In the first quarter of 2024, the UK cyber insurance market has become increasingly buyer-friendly, characterized by abundant capacity and intense competition among insurers, according to Marsh’s report “Q1 2024 UK Cyber Insurance Report: Trends, Tips, and Strategies for Navigating the Digital Risk Landscape.” This competitive environment has driven significant rate decreases. “In the first … Read more