Day: March 15, 2023

  • Cyber Insurance: Strengthening Cyber Defenses

    Cyber Insurance: Strengthening Cyber Defenses

    Cyber insurance companies are losing money. Their loss ratios – total claims plus the insurer’s expenses divided by total premiums received. These are now routinely around 60%, posing an existential danger to the insurance sector. Moreover, potentially renders cyber risk uninsurable owing to diminishing profitability.   The insurance industry is combating its losses by raising rates.…