Direct premiums written in the U.S. cyber insurance market have more than doubled over a four-year span, to $2.0 billion in 2018 from $996 million in 2015, as insurers have increased their writings and expanded product offerings to meet an ever-growing demand, according to a new AM Best special report.
In the new Best’s Market Segment Report, “Cyber Insurers Are Profitable Today, but Wary of Tomorrow’s Risks,” AM Best notes that growth has slowed from the two prior years, when direct premiums written grew by more than 30%. Direct premiums written in 2018 grew by 12.6% compared with the previous year. However, according to the report, market growth figures likely are understated given that a number of organizations utilize captive insurers to write cyber coverage.
A full complimentary copy of this report is available via the following link:
