Insurers significantly increased premiums for cyber coverage over the course of 2021, as a string of high-profile attacks and government action helped boost demand for products, data collected by industry bodies shows.
Direct-written premiums collected by the largest U.S. insurance carriers in 2021 swelled by 92% year-over-year, according to information submitted to the National Association of Insurance Commissioners, an industry watchdog, and compiled by ratings firms.
