In a firming market, with slight-to-moderate premium pricing increases across the board, cyber coverage remained competitive over the last six months, according to The Council’s most recent Cyber Market Watch Survey. Sixty-three (63) percent of respondents noted premium prices for commercial cyber insurance “stayed the same” over the last six months.
“Of all the hardening in the market right now, cyber was still very competitive.”
— Respondent from a large Northwestern firm
Additionally, more commercial insurance buyers appeared to purchase cyber coverage in the last six months. Forty-two (42) percent of respondents’ clients purchased some form of cyber coverage, compared to 33% in the fall 2018 report. Of those clients that purchased cyber coverage, 47% of respondents increased their coverage levels.