How have requests for cyber insurance changed over the last few years?
We expected the number of consumers looking for cyber liability insurance to increase over the last few years. However, we were quite surprised to see that the number of requests from 2022 to 2023 (as of July) increased by 114%!
Which industries are looking for cyber liability insurance the most?
Very few industries are impervious to cyber attack, however there are definitely some types of businesses seeking out cyber liability insurance on TrustedChoice.com more than others. In fact, the top five industries on our list made up 19% of all requests for cyber insurance since 2020.
What regions have the highest requests for cyber liability insurance?
Around 54% of cyber insurance requests on TrustedChoice.com since 2020 were from the Southeast and West regions, with the Southeast being slightly higher. Ohio, New York, Florida, Texas and California had the most number of requests in their respective regions.
Which insurance companies provide cyber insurance?
Here’s our list of our trusted insurance company partners who have an appetite for cyber insurance:
- Central Insurance Companies
- Co-operative Insurance Companies
- Encova
- Farmers of Salem
- Frederick Mutual Insurance Company
- Hiscox
- Koop
- Limit
- Main Street America Insurance
- MAPFRE Insurance
- NYCM Insurance
- Ohio Mutual Insurance Group
- Progressive
- SLB Insurance Group
- State Auto
- The Andover Companies
- Travelers
- West Bend
- Westfield
Be sure to check out our free insurance market finder tool next time you are looking for a trusted carrier, MGA or wholesaler for your customer.
Stay ahead of today’s pressing and rapidly evolving cyber threats
This fall, the Travelers Institute will be hosting cybersecurity symposiums across the country. The events, which are free and open to the public, are geared toward helping businesses and organizations gain insight into the current cyber landscape with strategies to help them prepare for, and respond to, cyber threats. Visit travelersinstitute.org to see when a symposium will be in your area!
