Posts in August 2022
Cyber coverage is tightening. Could captives be the safety valve for businesses looking to manage this ever-threatening risk?
Courtney DuChene | June 1, 2022
Bring up cyber insurance coverage in any board room and you’re likely to be met with heavy sighs.
Policy rates are increasing as insurers struggle to make cyber lines profitable. Policy terms are tightening and risk managers everywhere are starting to feel the pinch on their risk-transfer pocketbooks.
“We have certainly noticed an uptick in the anxiety levels in many of the clients I spoke to about cyber solutions going forward and yet still the same anxiety stems from the exposure, the vulnerability and the fact that they are as yet unsure where their captive coverage begins and what role the captive could or should play,” said Adrian Lynch, executive vice president, North America, Bermuda and Cayman at Artex Risk Solutions, Gallagher’s wholly-owned subsidiary for alternative risk and captives.