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Home / Insurance / Cyber ​​interest rates rise, D&O market gets capital: USI

Cyber ​​interest rates rise, D&O market gets capital: USI



Prices for cyber insurance continued to rise, while the director and civil servants market has received some much-needed capital, according to a report Friday from USI Insurance Services Inc.

USI now sees cyber coverage as up 60% or more for optimal risks and 100% or more for less optimal risks, optimal risks and challenged risks during the first half of 2022, compared to up 40% to 50% for optimal risks and 50% to 100% or more for less optimal risks by the end of 2021.

In addition to the continued interest rate hikes, USI also noted a “more technical and focused issue guarantee” in the cyber market. “The dramatic increase in ransomware attacks has led insurance companies to tighten the terms and availability of certain cyber protections, especially for organizations that cannot demonstrate strong cyber risk controls and overall cyber hygiene,”

; USI said.

For D & O coverage, USI said interest rates continued to stabilize during the first half of 2022, with “abundant” capacity for excess D & O liability leading to some programs seeing overall premium reductions.

Private companies and non-profit D&O showed an increase of 5% to 25% at the end of 2021, and moved unchanged at up to 15% during the first half of 2022. The D&O coverage for public companies showed a decrease of 5% to up to 25% at at the end of 2021, moved to flat to up 15% for primary coverage and down 10% to up 5% for overcoverage, giving a total decline of 5% to up 10% during the first half of 2022.

Many other lines across the entire property and accident area showed similar increases of 10% to 30% during the first half of 2022, roughly as at the end of 2021.

Medical malpractice showed a certain softening from up to 10% to 35% at the end of 2021 to up to 5% to 20% during the first half of 2022. Professional liability and insurance for errors and omissions also saw a certain softening, from up to 10% to 50% at at the turn of the year 2021 to 10% to 35% during the first half of the year 2022


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