Cyber insurance is the most dynamic underwriting class in the P&C market today.
The frequency and severity of ransomware events pushed the market through a painful hardening cycle in 2022 and 2023. In 2024 and into 2025, capacity has stabilized, but only for insureds that can demonstrate credible security controls: MFA, endpoint detection, tested incident response plans, and offsite backups.
Underwriters are increasingly functioning as de facto security consultants, using third-party scan data and security questionnaire responses to differentiate pricing by control maturity rather than just revenue band or industry class.
Pre-loss services -- vulnerability monitoring, tabletop exercises, breach coaches on retainer -- are becoming standard features that distinguish carriers in a competitive renewal environment.
#CyberInsurance #Ransomware #Underwriting #CyberRisk #InsuranceTech
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