{"id":8600,"date":"2022-01-28T09:31:47","date_gmt":"2022-01-28T15:31:47","guid":{"rendered":"https:\/\/www.bbrown.com\/insight\/cyber-market-update-q1-2022\/"},"modified":"2022-01-28T09:31:47","modified_gmt":"2022-01-28T15:31:47","slug":"cyber-market-update-q1-2022","status":"publish","type":"insight","link":"https:\/\/www.bbrown.com\/ca\/insight\/cyber-market-update-q1-2022\/","title":{"rendered":"Cyber Market Update | Q1 2022"},"content":{"rendered":"

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Property & Casualty<\/p>\n

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\n Cyber Market Update\n <\/h1>\n\t\n <\/div>[vc_column_text]<\/p>\n

Q1 2022: Not Yet Through the Hard Market<\/h3>\n

The intensifying hard market conditions of the second half of 2021 will likely carry into the first and second quarter of 2022. Q1 of 2022 will see cyber markets looking to adjust their first half of the year books to reflect the level of rates and capacity they sought in the second half of last year, and emphasis will continue on underwriting and controls. However, the inversion of the capacity curve and rate per million curve will begin to flatten as we move through the end of the first quarter and into the second quarter. Insureds renewing in 01 2022 should expect premium increases beginning in the 100% range and will need to work closely with their chief information security officers and IT security professionals to address vulnerability concerns of underwriters. Starting early in the process with your cyber risk professional and addressing these areas prior to approaching underwriters will have positive impacts on helping to reduce premium increases, maximize market capacity and eliminate reductions in your coverage such as sub-limits for ransomware, co-insurance and exclusions for dependent networks.<\/p>\n

A Closer Look at the Market<\/h3>\n

Capacity (Limits)<\/strong><\/p>\n