Cyber liability coverage has become increasingly more difficult to obtain and renew. Most policies saw an average 18% price escalation during the first quarter of 2021. Some renewals even experienced 80%+ in premium increases. 

Cyber liability’s large jump in Q1 resulted from an increase in frequency and severity of cyber claims. This was largely influenced by remote work, changes and advancements in workplace technology and ransomware attacks such as the Colonial Pipeline incident. 

Download our Cyber Risk Exposure Scorecard to help determine if your organization should put additional cybersecurity measures in place.