Cyber-Attacks Driving Increase in Insurance Purchases for New and Existing Buyers

The number of US-based Marsh clients purchasing standalone cyber insurance increased 32% in the first half of 2015 compared to the first half of 2014, according to “Benchmarking Trend: Cyber-Attacks Drive Insurance Purchases for New and Existing Buyers.”

The all-industry cyber take-up rate — the percentage of existing Marsh financial and professional liability clients that purchased cyber insurance — increased 25% in the first half of 2015 compared to the same period in 2014. Many existing buyers looked to increase limits — at times doubling their expiring limits. Pricing generally increased, particularly for companies in industries that have been hard-hit by cyber losses.

“Benchmarking Trend: Cyber-Attacks Drive Insurance Purchases for New and Existing Buyers” covers factors driving the increasing take-up of cyber insurance and includes:

• Take-up rates of cyber insurance by industry.
• Limit-purchasing trends.
• Tips for how you should approach cyber risk.