Average global cyber insurance prices continued to moderate in the first quarter, with average price increases of 11%, compared to 28% in Q4 2022, according to the Global Insurance Market Index published by insurance broker Marsh.
This was particularly evident in the largest cyber insurance markets, with prices rising by 11% in the US and 10% in the UK, compared to 28% and 34%, respectively, in Q4 2022, said Marsh, explaining that moderating cyber rates can be attributed to new market entrants bringing increased capacity and competition.
