by AIP Online Bureau | Oct 11, 2023 | Articles, Eco/Invest/Demography, Risk Management, Technology
Indian cyber insurance market is valued at USD 50-60 million, maintaining a steady 27-30 per cent compound annual growth rate (CAGR) in the past three years Anand Venkatraman, Partner, Risk Advisory, Deloitte India, said, “Despite the current market fluctuations...
by AIP Online Bureau | Jul 5, 2023 | Articles, Eco/Invest/Demography, Intermediaries, Non-Life, Reinsurance, Risk Management, Technology
Dan Leahy, Associate Director, said: “Having navigated the early phases of development that often come with new, fast growing lines of business, the cost of cyber insurance is now more commensurate with loss costs following the recent correction. Whilst the first half...
by AIP Online Bureau | Jun 15, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Workplace/Employee Benefits
Ransomware attacks soared last year, pushing demand for coverage after the pandemic-induced work-from-home era also made remote workers more vulnerable to digital attacks. Those attacks also spurred companies and individuals to adopt more robust cybersecurity measures...
by AIP Online Bureau | May 16, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Technology
Moderating claims frequency drove underwriting performance improvement, with lower ransomware incident costs and a higher proportion of incidents without payment However, this may be temporary, given the rapid pace of technological and economic change, such that...
by AIP Online Bureau | Apr 25, 2022 | International News, Non-Life, Reinsurance, Technology
A sharp increase in 2020 cyber loss ratios promoted substantially higher prices and rapid premium growth in 2021 that exceeded incurred losses, leading to surprising improvement in the cyber direct loss ratios versus the previous year Fitch estimates that standalone...
