Trend | Range | |
---|---|---|
Q3 2022 | +25% to +50% | |
Q4 2022 | Flat to +25% |
Primary and excess cyber renewals are now averaging more nominal premium increases in the flat to +25% range and there are signs of capacity beginning to broaden.
Although there are finally signs of losses slowing some, ransomware and the potential for other widespread events continue to be a concern.
Markets continue to constrict coverages to limit their exposure to regulatory risk, ransomware losses and other widespread cyber incidents, and they look for new ways to underwrite cyber risk.
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