In a year when cyber insurers notched the third-lowest industrywide loss ratio since 2015, and cyber premiums vaulted to $7.2 billion, a premium ranking shows two carriers growing more than 150% to landing in prominent top-10 spots. Fitch compiled and …
The cyber insurance sector has been tested recently with growing ransomware attacks, rising premiums, and more sophisticated threat actors, but that isn’t necessarily scaring insurers away, according to a 2022 Cyber Insurance Market Trends report from Panaseer. “Despite the considerable …
While the market for cyber insurance is expected to remain challenging “for the foreseeable future,” there is optimism for rate stabilization as organization focus on cyber hygiene, according to broker Marsh. In a recent briefing, the broker said “steep rate …
Alexandra Bretschneider said it feels like she has been a part-time grim reaper the last two years. The cyber practice leader at broker Johnson, Kendall & Johnson said, “I am just constantly delivering bad news.” Providing a perspective of the …
The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74% to over $4.8 billion, according to a report from Fitch Ratings. Overall, the top cyber insurance underwriters are …
The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing Trends Report found that 42 percent of …
The message about the need to take cyber risk and insurance seriously is getting through to companies and boardrooms. “As risk awareness has grown, more organizations, particularly those focused on their business interruption risk, are turning to the cyber insurance …
The number of U.S. insurers providing cyber insurance continues to grow along with instances of cyber attacks. In 2017, 170 U.S. insurers reported writing cyber insurance, up from 140 in 2016 and 119 in 2015, according to Aon’s latest U.S. …
Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017 and by 2021 will rise to almost $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in 2017 and are forecast to rise to $331.5 billion …
Risk managers are very concerned about the cyber risks facing their companies and are heavily investing in protection against cyber attacks with the blessings of their boards and CEOs, a major shift from even just 10 years ago when convincing …
