For reinsurers, Insurance Business Cyber LOB Report demonstrates that systemic cyber risk is not evenly distributed across the U.S. It is concentrated in state-level “risk-to-presence” imbalances, where cybercrime intensity significantly exceeds insurers established footprints.
The latest Industry Report on cyber insurance, and its maps featuring cyber insurance companies; internet crime count per company; and internet crime cost per company, each by state, is the most decision-critical view for reinsurers. By normalizing FBI internet crime counts and losses against cyber insurer presence, it reveals where accumulation risk is most likely to materialize, often outside traditional areas of cyber premium concentration.
California is the clearest example. Despite a mid-tier ranking in insurer presence, it exhibits the highest internet crime counts and losses per company, with over 5,400 reported incidents and nearly $26 million in losses per normalized measure. The report describes it as “perhaps the least adequately cyber insured U.S. state.”
The report’s chapter on the Cyber Insurance Risk Environment expands this across the U.S. landscape. Internet crime loss and severity by state figures show that large economic states, California, Texas, Florida, and New York, dominate total cyber losses, while also anchoring the country’s digital transaction infrastructure. These are shared-risk environments, where vendor concentration, cloud dependencies, and fraud patterns overlap across insureds.
At the same time, certain smaller, eastern jurisdictions exhibit elevated severity per event, indicating that accumulation risk is tied to the nature of economic activity and transaction value.
For reinsurers, this reframes portfolio risk entirely:
The report provides a practical framework to act on this. Using its 50-state data appendix and normalized metrics, reinsurers can:
Cyber insurance is a distributed accumulation problem hiding in plain sight.
The Insurance Business Cyber LOB Report, “The U.S. Cyber Insurance Market: Evolution of Underwriting, Claims and Strategy,” provides a comprehensive view of the market across six chapters, covering market structure, underwriting performance, carrier scorecards, and the evolving cyber risk environment. It is supported by 20+ figures including premium, claims, and state-level data; and a full data appendix, enabling readers to benchmark performance and apply insights directly to underwriting, placement, and portfolio decisions.
Stress tests your portfolio with the report’s state-level risk metrics and data appendix. Download the Insurance Business Cyber LOB Report to identify hidden systemic exposure before the next event defines it for you.
Get the complete report here.
