Cyber insurance is a new and developing sector with risks emerging every day. With relevant cyber data dating back only roughly as far as 2015 in many cases, however, insurers face challenges when pricing policies accurately.
Insurance Business’s 5-Star Cyber winners shone by persevering in the face of such uncertainty and by the way in which they dealt with unknowns to become top cyber insurance companies.
Brokers identified critical areas in the cyber landscape, including threat intelligence and mitigation, payment processing, targeting small and medium-sized enterprises, and more.
While many challenges persist in cyber insurance, they also offer many opportunities for cyber professionals to grow and develop within an industry in need of tech and software solutions.
“We as insurers do a lot of mitigation work that the majority of customers may not actually see. For the most part, we only alert those customers where we detect critical vulnerabilities or exposures and if you don’t have those, you probably won’t hear from us”, says Jacob Ingerslev, SVP for cyber and tech underwriting at 2023 awardee Tokio Marine HCC.
To read more about the Top Cyber Insurance Companies for 2023 5-Star Cyber winners, access the full report now.
