U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings. Fitch predicts that immediate improvement is unlikely this year from these actions and …
The cyber insurance market remains a source of growth for U.S. property/casualty insurers; however, that growth is slowing, according to Fitch Ratings. The industry’s total direct written cyber premiums grew 8% in 2018 to $2 billion, down from 37% growth …
Cyber insurance coverage continues to be one of the fastest growing segments and represents a significant growth opportunity for U.S. property/casualty insurers, according to Fitch Ratings in a new report. The market has attracted about 75 insurers, with Chubb and …
The influence of cyber risk on insurer ratings is likely to be neutral or gradual as long as insurers continue take a cautious approach to the business, according to Fitch Ratings. At its recent cyber conference in New York, Fitch …
Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest cyber insurance writers are American International Group, XL Group …
The recent ransomware attacks in more than 150 countries are likely to increase demand for related insurance protection as they reveal the widening scope of corporations’ cyber risk exposures. But Fitch Ratings says insurers should take a cautious approach to …
About 120 U.S. insurance groups wrote an estimated $1 billion in cyber insurance direct written premiums in 2015, according to Fitch. Fitch aggregated the cybersecurity statutory supplement data for the U.S. property/casualty (P/C) insurance industry and analyzes the cyber insurance …
