Many organizations have been waiting six months or longer before attaining the desired cyber insurance coverage. (Credit: Bro Vectort/Adobe Stock)
Recent trends within the insurance sector have unveiled a discernible shift in landscape dynamics, particularly within cyber insurance.
Organizations now face elevated insurance rates in pursuing new coverage applications or policy renewals, a trend warranting attention. Further compounding this issue is the revelation that two-thirds of these entities have encountered premium escalations ranging between 50% and 100%. Such a dramatic surge in insurance costs necessitates thoughtful consideration and implementation of strategic approaches.
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