Fitch Ratings found a surprising improvement in loss ratios for cyber insurance providers in 2021. Loss ratio – which tracks claims paid by an insurer versus premiums earned – declined for the first time since 2018. The improvement was due to premium hikes so steep that they exceeded incurred losses, Fitch found. Still, the cyber insurance loss ratio remains significantly worse that what the industry experienced from 2015 to 2019, when it never rose above 48%, according to Fitch. Some firms are opting for insurance policies with deductibles of $25,000 rather than $10,000 or reduced policy limits or coverage terms.”]
Source: https://www.cuinfosecurity.com/premium-hikes-spur-improved-us-cyber-insurance-loss-ratios-a-18908