Insurers deny cyber premiums are rising
Contrary to banks’ complaints, underwriters and brokers claim current market for policies is soft.
Insurers and brokers reject complaints from large banks that premiums for cyber risk coverage are still on the rise—after they rocketed a couple of years ago—and reckon the current market is instead “soft” and favorable for clients.
The majority of global systemically important banks (G-Sibs) believe the cost of insuring against cyber losses continues to climb, with some claiming they are paying higher premiums for the same levels of coverage.
Sydonie Williams, cyber risks focus group leader, rest
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