Inside Cybersecurity

September 25, 2023

Daily News

Standard & Poor’s weighs in on state of cyber insurance market, calls for ongoing assessment of ‘risk exposures’

By Charlie Mitchell / August 2, 2022

Significant price hikes have made cyber insurance the fastest growing segment of the insurance market, according to Standard & Poor’s Global Ratings, but the sector must constantly re-evaluate risk exposure and strategies for business expansion amid a turbulent threat environment underscored by major cyber incidents and the ongoing crisis in Ukraine.

“Cyber insurance premiums topped $9 billion in 2021, according to [insurance provider] Munich Re. That figure is likely to increase at an average 25% per year to about $22.5...

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