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Cyber Insurance Premiums Up 27.5% to Lead All Lines in Q1: CIAB

May 31, 2022

According to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could have driven cyber premium price increases of an average 27.5% during the first three months of 2022.

Nearly 80% of respondents said capacity decreased during Q1, and more than 30% said the decrease was “significant.” Meanwhile, 90% of survey takers said there was an increase in demand for cyber insurance due to an “increased general awareness of the exposure faced by all individuals and organizations on a global basis without borders or regard for size, score or industry,” CIAB quoted one respondent.

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