Feed: Slashdot
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Title: Cyberattack Surge Creates Opportunity for Insurers, Prompts Rethink on
Premiums

Link: https://it.slashdot.org/story/25/05/28/121520...

The recent surge in cyberattacks is pushing cyber insurers toward a
fundamental reassessment of premium pricing, Bloomberg reports, with industry
analysts warning of an impending "inflection point" that could reshape the
market. Marks & Spencer's impending $404 million hit to its operating
profit from a recent hack underscores claims that will "attract intense
scrutiny from insurers," according to cybersecurity expert Adam Casey. While
incidents like this might not trigger immediate premium hikes across the
board, they might likely contribute to an upward pricing trend. Panmure
Liberum analyst Abid Hussain said that premiums have recently been falling as
policy coverage has tightened, but the industry now faces a critical decision
point. "There's going to be another step change, either in the policy wording
or in the premiums, or both," Hussain said.

Read more of this story at Slashdot.

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