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Article | Decode Cyber Brief

GB Cyber Insurance Market Update H1 2021

Cyber Risk Management|Financial, Executive and Professional Risks (FINEX)
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By Glyn Thoms | October 1, 2021

In this market update, we look at the 4 key areas of the cyber insurance market impacted by the changes seen in the current cyber risk environment.

The cyber insurance market has continued to evolve during the first half of 2021. We have seen an overall increase in the number and sophistication of attacks with a surge in ransomware attacks and claims. This has been further exacerbated by the COVID-19 outbreak which accelerated the shift to remote working with even more reliance on digital technology for business and so many other functions.

The changes in the overall cyber risk environment have had a rapid and dramatic impact on the cyber insurance market in several ways. Within this update we have set out the impact across 4 key areas being:

  • Cyber insurance market capacity
  • Claims & notifications
  • Premiums & retentions
  • Policy coverage

For the full market update, please download our PDF below.

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GB Cyber Insurance Market Update H1 2021 PDF .8 MB
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