cyber insurance News
25 Years: The Journey of Cyber Insurance
This year marks the 25th anniversary of the cyber insurance market. While many industry observers view cyber coverage as a surging phenomenon in response to escalating incidence of random attacks, ...
Cyber Insurance Premiums Up 27.5% to Lead All Lines in Q1: CIAB
According to The Council of Insurance Agents & Brokers' (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could ...
Rapid Cyber Premium Growth by Fairfax, Tokio Marine Increased Share of Market
The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74 percent to over $4.8 billion, according to a report from Fitch ...
Analysis: Cyber Insurers Face Large Ukraine War-Related Claims Despite Exclusions
Insurers face potential multibillion-dollar claims for cyber attacks related to Russia's invasion of Ukraine, despite policy wording designed to get them off the hook for war, industry sources say. ...
Cyber Market Primed to Grow and Eclipse Property by 2040: Gallagher Re
Following a pause to stabilize the vessel, the cyber market is poised for a wave of growth that could make it larger than the property-catastrophe market by 2040, said Gallagher Re. In fact, if the ...
Small Businesses and Cyber Attacks: It’s Not a Matter of If, But When
According to the 2021 Data Breach Investigations Report from Verizon, 61 percent of all small and medium-sized businesses (SMBs) have reported at least one cyber attack during the previous year. ...
Mitigation Efforts Won’t Stop Cyber Damage and Related Rate Hikes in 2022
As dramatic as escalating ransomware attacks and rapidly climbing cyber insurance rates have been in 2021, both trends will continue to be a nuisance in 2022, according to an expert from Fitch ...
InsurTech Coalition Forms Captive Insurer to Enhance Cyber Capacity
Managing general insurance agency and cybersecurity company Coalition has launched a captive insurer to begin taking risk on its cyber insurance programs. The captive, domiciled in Hawaii, will ...