Analysis

Briefing: Insurers debating ‘if they want to play’ in cyber market despite ‘huge protection gap’

By 2023-02-09T10:00:00

playground

With cyber cover premiums ‘up almost 200%’ in aggregate, cyber insurance could be a profitable area for insurers willing to dip their toes into constantly choppy and changing waters

The cyber insurance market is certainly one that is keeping insurers and brokers on their toes.

This was clearly evidenced by our roundtable with professional services firm RSM last month (26 January 2023), where attendees flagged broker training and cyber competency, cheaper cyber cover options for SMEs and confusion over physical losses linked to cyber events as some of the key issues this nascent market is grappling with.

With my head full of these findings, I tuned in to S&P Global Ratings’ 2023 cyber outlook webinar on 2 February 2023 to see whether the credit rating agency was picking up on similar or different trends.

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Explore more news analysis here, or read up on cyber-related content here.

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