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Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers

Insurance Journal

The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …

Risk 298
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Tech Sector Sees Softer Insurance Market but Less Comprehensive Policies

Insurance Journal

A softer-than-expected market kept insurance premiums for technology companies down or flat in some lines in 2024, according to a new report from business insurance platform Embroker. Embroker’s 2024 Business Insurance Index: Tech Sector found average errors & omissions/cyber premiums

Policy 243
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CIAB: Commercial Premiums Rise 5.4% Overall in Q4 2024

Insurance Journal

2024 ended as steady as ever with “no real change in current market conditions” as respondents of a recent survey reported most lines of business in the last quarter had average increases in premiums about the same or …

Premium 228
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Cyber Insurance Market ‘Stable’ With Potential for Growth, Says AM Best

Insurance Journal

By Chad Hemenway According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a “stable” outlook despite a stall in premium growth. Analysts at AM Best issued a segment outlook and report …

Cyber 130
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Cyber Distribution in a Digital World

Zywave

According to the Insurance Information Institute, global cyber premiums are expected to rise as high as $23 billion by 2025. Experts also expect that over half of the global written premium will be represented by US-based companies. That starts thinking about how you can most effectively expand your cyber distribution efforts.

Cyber 98
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Global Non-Life Insurance Rates ‘Plateauing’ but Nat Cat Losses Delay Market Softening

Insurance Journal

Global non-life premiums are expected to hit a decade-high growth level of 4.3% “Premium rates are now moderating, … in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s sigma.

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Becoming a Cyber Insurance Leader

Zywave

Within the next decade the cyber insurance market is projected to grow to over $120 billion according to a report by Fortune Business Insights. That means there’s a lot of opportunity for insurers who are looking to either grow their cyber business or expand into the cyber market. But with growth opportunities comes risk.

Cyber 97