The total amount extorted from ransomware victims in 2022 dropped to $456.8 million from $765.6 million the year before, according to data from Chainalysis. (Credit: SergeyBitos/Adobe Stock) The total amount extorted from ransomware victims in 2022 dropped to $456.8 million from $765.6 million the year before, according to data from Chainalysis. (Credit: SergeyBitos/Adobe Stock)

(Bloomberg) — The cyber insurance market, battered by a rash of pandemic-era ransomware attacks, is making a comeback. Price hikes are moderating, new carriers and fresh sources of capital are emerging, and companies can better afford coverage.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Commercial Lines
Information Security
E&S/Specialty