Ransomware Attacks Cause Cyber Insurance Premiums to Surge by 50%
Loss ratios are improving, but premiums on this line continue to surge. That and total amount of premiums in the line (tripled in last three years).
As seen on bloomberglaw.com -
US cyber insurance premiums surged 50% in 2022 as increased ransomware attacks and online commerce drove demand for coverage.
Premiums collected from policies written by insurers reached $7.2 billion in 2022 and tripled in the past three years, ratings firm AM Best said in a study released this week.
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