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Cyber Insurance Premiums Are Declining, Howden Insurance Brokers Report Finds
Improved cyber hygiene among businesses has led to a reduction in cyber insurance premiums by 15% worldwide over the last two years, a new report from Howden Insurance Brokers has found. This is despite the fact that cyberthreats, particularly ransomware attacks, are becoming more prevalent. Awareness of cyber hygiene practices, like multifactor authentication, EDR and cloud backups, has grown significantly since 2022. Ransomware attacks have increased by 18% this year, according to Howden and NCC…
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