To put it mildly, the current cyber liability marketplace is like a kite in a windstorm. If you are a first-time shopper or a current cyber liability policyholder be prepared for some major changes. Some of those changes will be higher premiums, higher deductibles, limit reductions, certain coverages reduced or removed, and more policy exclusion. Policy renewal customers should expect renewal premiums to increase anywhere from 40% to 100%+.
The cyber market is in a dynamic state of flux. Claims are on the rise and the biggest drivers for the market