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Rising Cyber Insurance Premiums Highlight Importance of Ransomware Prevention

November 18, 2021

No insurance premiums saw greater growth in the second quarter of 2021 than those related to cybersecurity. According to the Council of Insurance Agents & Brokers, cyber insurance premiums grew more than a quarter (25.5%) during that period. That’s well above the 17.4% increase witnessed by umbrella insurance and an average of 8.3% growth across all premiums. In part, that’s because of ransomware. What can your business do about it?

What’s Behind This Growth of Cyber Insurance Premiums?

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