Cyber extortion, data loss and cyber-attack continue to be ranked as the top 3 risks facing Directors’ and Officers in our Global Directors’ and Officers' Liability Survey Report 2023.
The key findings of the survey revealed that cyber attacks, data loss, and cyber extortion were ranked as the top three cyber risks facing Directors and Officers for the second year in a row. This highlights the need for businesses to have a comprehensive cyber risk management plan in place.
Welcome to our global cyber market update where we delve into the latest developments in the cyber insurance marketplace, focusing on claims and notifications, severity, premiums and retentions, policy coverage, market capacity, and an outlook for the second half of 2023. Grab your headphones and lets dive in!