According to this new report by CyberPolicy, cyber insurance has experienced rapid growth across SMBs over the past year, with the highest quarterly growth being 150 percent and averaging approximately 69 percent per quarter.
- SMBs are demanding higher cyber insurance limits and extended coverage.
- Cyber insurance is a crucial component for third-party vendor relationships.
- Digital innovation and a growing customer base are driving a decrease in cyber insurance premiums.
- New SMB cyber insurance shoppers are driving market growth.
- Repeat SMB cyber insurance policy holders are increasing.
To read the full article, head over to Insurance Journal.