July 6, 2022
While young underwriters may think that cyber insurance is a recent coverage innovation, the line is actually more than two decades old. Here, Kurtis Suhs, a veteran of the cyber insurance industry who served as an investigator and criminal coordinator …
April 14, 2022
According to estimates by Fitch Ratings, direct written premiums (DWP) for standalone and packaged cyber insurance increased 74% to nearly $5 billion in 2021 compared with overall growth for the property casualty industry of 9%, making cyber insurance the fastest …
July 22, 2020
Cyber insurers have been enjoying a profitable run for several years but are now facing a changed risk landscape with data breaches, ransomware attacks, insurance claims and overall threat awareness increasing. In a report, “Cyber Insurance: Profitability Less Certain as …
June 18, 2019
The cyber insurance market continues to grow and underwriting performance in this line remains strong, according to a new industry report. Direct premiums written for both standalone and packaged cyber policies grew about 12 percent in 2018 from $1.8 billion …
May 15, 2019
The cyber insurance market remains a source of growth for U.S. property/casualty insurers; however, that growth is slowing, according to Fitch Ratings. The industry’s total direct written cyber premiums grew 8% in 2018 to $2 billion, down from 37% growth …
May 1, 2019
Corvus Insurance has opened an office in Atlanta, its fifth office location, and hired Joel Fehrman, who will serve as vice president of Cyber Underwriting based in the new office. Fehrman joins Corvus with more than 10 years of experience …
March 26, 2019
There has been plenty of talk about how cyber continues to evolve in an ever-changing technology landscape, how cyber risks have become increasingly sophisticated and how the insurance industry needs to keep pace. Meanwhile, the question of how to transform …
October 22, 2018
While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in the 30s or …
May 21, 2018
The U.S. market for cyber insurance grew significantly in 2017, as direct premiums written rose nearly 32 percent year over year to $1.8 billion, and policies in force jumped 24 percent to 2.6 million, according to an A.M. Best special …
March 2, 2018
More than 20 years ago, Steven Haase wrote the first cyber insurance policy. Haase told Insurance Journal the story of how that first policy came about in the first part of this report, What Agent Who Wrote First Cyber Policy …