Tag: Cyber Insurance

Capital and Risk, Insurance

Majority of Underwriters Predict Cyber Risks Grow ‘Greatly’ in 2024: Survey

January 18, 2024

Via: Insurance Journal

Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in […]

Capital and Risk, Insurance

Cyber Insurance Rate Hikes Moderate, While Property Prices Rise in Most Regions: Marsh

April 27, 2023

Via: Insurance Journal

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 […]


Insurance Is on Agenda at Today’s White House Cyber Summit With Tech Leaders

August 25, 2021

Via: Insurance Journal

The White House is hosting an event on Wednesday that will bring together the largest U.S. technology companies for a discussion about cybersecurity challenges following a raft of high-profile hacking incidents earlier this year, people familiar with the event told […]

Capital and Risk, Operational

Cyber Insurance Market Procurement Intelligence Report With COVID-19 Impact Update| SpendEdge

April 16, 2021

Via: PR Newswire

The Cyber Insurance market will register an incremental spend of about USD 13.97 Billion, growing at a CAGR of 26.70% during the five-year forecast period. A targeted strategic approach to Cyber Insurance sourcing can unlock several opportunities for buyers. This […]

Capital and Risk, Insurance, Operational

NY’s Cyber Guidance Could Boost Risk Management for Insurers, Insureds Across U.S.

April 5, 2021

Via: Insurance Journal

The Cyber Insurance Risk Framework, launched recently by the New York State Department of Financial Services, is a positive step for both insurers and insureds because it calls on insurers to consider more explicitly how they measure their cyber risk […]

Activity, Insurance

Business Cyber Losses Soar but Firms Fight Back with Extra Security Spending: Study

June 23, 2020

Via: Insurance Journal

Cyber losses among businesses have risen nearly six-fold during the past year, from a median cost of $10,000 per firm to $57,000, according to an international survey commissioned by insurer Hiscox. Total cyber losses among the study group rose from […]

Activity, Capital and Risk, Insurance, Operational

Putting a price on protection: the importance of cyber insurance

March 23, 2020

Via: Finextra

For almost as long as businesses have been subject to risk, some form of insurance has existed to mitigate their exposure. The first recorded commercial insurance policies date back to Babylonian times, and in the thousands of years since, the […]

Activity, Insurance

Ransomware Exposure Driving Up Cyber Insurance Costs

January 22, 2020

Via: Insurance Journal

U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of hackers using malicious programs, […]

Activity, Insurance

2019 Cyber Insurance Predictions: Strong Drivers for Growth Ahead

January 15, 2019

Via: Insurance Journal

Cyber insurance is trending upward, the industry is growing, and the technology around it is evolving at a very quick pace. While predictions are always hard to make, here are five trends that are likely to catapult the cyber insurance […]

Activity, Insurance

U.S. Cyber Market Grew 32% in 2017 But Most Small-Medium Firms Opted Out: A.M. Best

May 21, 2018

Via: Insurance Journal

The U.S. market for cyber insurance grew significantly in 2017, as direct premiums written rose nearly 32 percent year over year to $1.8 billion, and policies in force jumped 24 percent to 2.6 million, according to an A.M. Best special […]

Activity, Insurance

Cyber Insurance Purchasing Slowing After 6 Years of Fast Growth

November 1, 2016

Via: Insurance Journal

The overall upward trend of organizations purchasing cyber insurance continued in 2016, however there are signs the market is slowing after six years of rapid growth. A 2016 Zurich Insurance-Advisen survey shows that over the last six years, the proportion […]

Activity, Insurance

50% of Risk Managers Bought or Increased Cyber Insurance in Last Year: HSB

May 18, 2016

Via: Insurance Journal

Fifty percent of U.S. businesses have either purchased cyber insurance for the first time or increased their level of coverage in the last year, according to a survey of risk managers by The Hartford Steam Boiler Inspection and Insurance Co. […]