The cyber insurance marketplace continues to be “hard” as Cyber carriers are consistently looking to right-size their portfolios due to 2020 and 2021 claims results. There is an ongoing emphasis on rate increases and “must have” technical security controls. The frequency of ransomware claims has slowed, but the severity factor remains amongst other exposures. While the underlying risk poses a volatile class, we continue to see the coverage evolve and this coverage is now deemed critical and essential to every organization’s overall risk management strategy.