Government Accountability Office: Cyber insurers raising premiums, limiting some coverage in hard-hit sectors. In 2020, about half of respondents reported premiums increased 10% to 30% for their clients. Some insurers reduced the amount of coverage they provided in sectors seeing a surge in attacks. The percentage of organizations eligible for cyber insurance coverage that have actually purchased it grew to 47% in 2020, up from 26% in 2016. The insurance industry still lacks data necessary to better understand market trends and how incidents such as ransomware attacks can affect organizations.”]
Source: https://www.cuinfosecurity.com/cyber-insurance-higher-premiums-limited-coverage-a-16727