Reducing the cost of cyber insurance premiums

Andreas Wuchner at Panaseer describes how accurate security metrics can help to reduce soaring cyber insurance premiums.

Cyber insurance is an important part of enterprise risk management, helping minimise business disruption and provide much-needed financial, legal and regulatory support in the event of a security incident. But with ransomware breaches surging, cyber insurance premiums in the UK and US are soaring while coverage is shrinking.

The UK saw a 102% increase in pricing in the first three months of 2022, up 10% from the previous quarter. Panaseer’s latest research into the trends impacting the cyber insurance industry shows that most (82%) insurers on both sides of the Atlantic expect these rises to continue... Read the full article from Teiss.