Cyber Insurance Rates Drop
A report from Marsh has found that cyber insurance rates and prices in the United States declined in the second quarter of 2017, the second straight quarter they have done so. U.S. cyber insurance rates declined 1.5 percent on average during the quarter, compared with a 1.7 percent decrease in the first quarter. This marks the first time since 2012 that average cyber rates have declined for two consecutive quarters. Marsh cites the increase in capacity due to the expansion of risk appetite from existing cyber markets as a contributing factor to the decline. Another factor identified is the entrance of new insurers in the product area.