Are rising cyber insurance premiums a good thing?

01/02/2023 | Finance Monthly

An article in Finance-Monthly looks at the rise in prices of cyber insurance and asks whether this might be a positive. Premium costs have been increasing for a few years, with one report highlighting the UK cost of cover grew by 92% in Q4 2021 alone. The article questions whether the cyber insurance industry is exacerbating the ransomware threat, given organisations with cover can claim it back quickly. Furthermore, the article suggests rising premiums could reduce complicity and laziness within cybersecurity teams who would instead see value in proactive protection. 

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Spyware, hacked, cyber attack, ransomware

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