- Ransomware accounted for 70% of total claims costs incurred by CFC Underwriting in 2022
- More than 120% of growth in number of captives writing cyber in Marsh’s portfolio
- Single parent, cell captives and mutuals all established to provide cyber capacity to insureds
A lack of capacity and high pricing in the cyber market is resulting in increasing captive utilisation for cyber risk.
The commercial market has seen periods of triple-digit rate increases during one of the most significant periods of hardening ever experienced in cyber, primarily driven by costly ransomware claims.
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