PYMNTS.com July 1, 2024
Despite a recent wave of ransomware attacks, cyber insurance premiums are declining around the globe.
That’s because businesses have gotten better at dealing with losses related to cybercrime, specialist insurance broker Howden said in a report issued Monday (July 1).
“Favorable dynamics have persisted into 2024, with the cost of cyber insurance continuing to fall despite ongoing attacks, heightened geopolitical instability and the proliferation of Gen AI,” Sarah Neild, Howden’s head of cyber retail for the U.K., said in a news release.
“At no other point has the market experienced the current mix of conditions: a heightened threat landscape combined with a stable insurance market underpinned by robust risk controls. The foundations for a mature cyber market, with innovation and...
Today's Sponsors
Today's Sponsor