Insurance premiums soar along with rise in cyber crimes
- January 5, 2022 |
- Walt Williams
Cybersecurity insurance is essential coverage for any organization with significant IT infrastructure, but premiums are skyrocketing and insurers are increasingly demanding that clients implement safeguards to minimize their risk of future cyberattacks.Related contentGetting an association up and running after a cyberattackThe Council of Insurance Agents & Brokers recently reported that cyber insurance premiums rose a record 26.7% during the third quarter of 2021. That follows a 25.5% increase during the second quarter. Prices began shooting upward in early 2020. Previously, cyber insurance rates remained relatively flat from year to year.The reason for the price… Read More