Cyber

Around 16% of the wholesaler’s accounts absorbed rate rises above 20% in March and the other 31% saw rate increases between 10% and 19%.

Key focuses at the event included staff shortages, a slowdown in cyber attacks and the expectation of cooling market conditions.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The global damage related to cyber crime will reach $10tn by 2025, according to current estimates.

A reduction in incidents linked to better resilience and the Ukraine war may temper cyber price increases, the broker said.

Surefire Cyber will support insurers and insureds in their responses to cyber incidents, such as ransomware attacks.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Rate increases in the hard-market cyber class came in at 27.5%, down from 34.3% in the previous quarter.

According to a joint Marsh-Microsoft report, 75% of 660 companies surveyed said they have suffered a cyber attack of some form.

Companies that had easily lured investors with major premium growth are now scrambling to prove their fundamentals work, and are sitting out fundraising to avoid a down round.

Based in Boston, the executive will report to AGCS’ NA regional head of financial lines Joe Caruso.

Ho has focused in recent years on working with brokers to find cyber insurance solutions for clients facing complex risks.