Author: John Farley
After several years of rising premiums and capacity constriction, the 2023 Cyber insurance market surprised many, as softening conditions rippled through the marketplace in an impactful way.
As we move into 2024, we see a market that has matured to a level where both applicants and providers of Cyber insurance have gained valuable insight into how threats manifest into claims, and generally understand the minimum security controls required to help prevent and mitigate their effects. However, despite the favorable buyer's market, an underlying concern remains in the underwriting community about systemic cyber risk.
This report shares key insights into claims trends, the regulatory landscape, the reinsurance market and more of what we expect to see in 2024.