Looking at the cyber security liability application, requirements that our clients – and our agencies – must meet to just get a quote is incredible. A few years ago, every carrier was writing cyber; today the insurance marketplace realities have hit. Markets are dwindling, losses are showing no sign of slowing, and requirements to get a quote are increasing as fast as a new application comes in for coverage. Coverage limits and covered losses are becoming more and more restricted, while premiums have skyrocketed. I’ve stopped trying to “guess” what a new policy might cost, much less the daily question, “How much do I budget for our cyber renewal?”
