Standalone cyber policies now the majority… “Standalone policies are more often subject to claims, given that more-sophisticated clients with more data and financial resources typically purchase these policies.
Despite the ongoing growth in cyber claims in 2021, cyber insurers’ underwriting performance still improved, as evidenced by an estimated combined ratio of 91.8 in 2021, although the estimated combined ratio on standalone policies was worse at 98.8.
The positive underwriting results were due largely to strong rate increases, which exceeded on average 25% in each quarter of 2021, according to the Council of Insurance Agents and Brokers.”
Source: US cyber liability market continues growth trend – Reinsurance News