Direct premiums written in the US cyber insurance market grew by 11% annually in 2019 to $2.25 billion – but the rate of growth slowed from the previous year, marking the fourth straight year of slowdowns, according to a new A.M. Best report.
In the new Best’s Market Segment Report, “Cyber Insurance: Profitability Less Certain as New Risks Emerge”, the ratings agency found that growth has slowed significantly from 2016-2017, when direct written premiums grew by more than 30% year over year.
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