AM Best: Insurers must review cyber risks ‘urgently’
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AM Best: Insurers must review cyber risks ‘urgently’

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Average loss ratios for cyber across the top 20 US cyber carriers surged to 67.8% in 2020 from 44.8% the year before, according to an AM Best report that warns insurers to review their risks.

The ratings agency’s market-segment report on cyber urged carriers to reassess all aspects of their cyber risk urgently, including their appetite, risk controls, modelling, stress testing and pricing.


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