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SMEs potentially priced out of cyber cover due to ‘ongoing issue’ of rising premiums

By 2022-12-12T06:45:00

gold arrow, rising prices

How insurers quantify cyber risks has to change in order to effect more stable pricing in the long term, says commercial director

Small and medium-sized enterprises (SMEs) could be “priced out” of buying cyber insurance in 2023 as escalating premium costs will continue to be “an ongoing issue for the cyber insurance industry” next year, according to Lawrence Perret-Hall, commercial director at cyber security business CYFOR Secure.

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