Cyber Insurance: Insurers and Policyholders Face Challenges in an Evolving Market

Overview

The United States Government Accountability Office (GAO) analyzed industry data on cyber insurance policies; reviewed reports on cyber risk and cyber insurance from researchers, think tanks, and the insurance industry; and interviewed Treasury officials. GAO also interviewed two industry associations representing cyber insurance providers, an organization providing policy language services to insurers, and one large cyber insurance provider.

This report includes the following data:

• Cyber Insurance Take-up Rates for a Selected Large Broker’s Clients, 2016–202
• Cyber Insurance Take-up Rates for a Selected Large Broker’s Clients, by Industry, 2016–2020
• Direct Written Premiums and Policies in Force for Cyber Insurance, 2016–2019
• Change in Cyber Insurance Premiums, 2017–2020

We thank the GAO for sharing this report with our audience.

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