Markets in Focus

Cyber Insurance

Q2 2024

Markets in Focus | Cyber  |  Cyber Q2 2024

The cyber insurance market remains stable, with ample capacity and favorable reinsurance renewals in January. The cyber risk landscape is shifting from ransomware to privacy events and litigation. Class action lawsuits alleging improper collection and sharing of personal information have increased, particularly in the healthcare sector. Insurers are closely monitoring these developments as the number of losses could impact their profitability. Some insurers are using exclusions related to data collection to avoid covering settlements and defense costs.

 

This edition covers:

  • Market Stability and Capacity
  • Pricing and Premium
  • Outlook
  • Coverage and Underwriting Standards
  • Evolving Cyber Risk Environment