Quarterly Cyber Insurance Update: August 2023

In this quarter’s update we look at new Securities and Exchange Commission cyber rules that may increase insurance risks for corporate directors; how new technologies such as artificial intelligence are helping assess a company’s cyber risk profile; and does having a cyber insurance policy increase the likelihood of being a victim of a ransomware attack?

Premium Prices Decline Slightly Following Several Quarters of Increases

Cyber insurance prices in the U.S. declined 4% year over year on average in the second quarter…