News and Analysis

The growth in cyber insurance was driven by the digitization of organizations and the increase in cyber incidents and vulnerabilities. However, understanding and implementing cyber insurance has proved complex due to its continually evolving nature. Newer managing general agencies (MGAs) that understand cyber risk and are agile enough to adapt to changing circumstances have an advantage. Successful MGAs leverage modern technologies to identify, assess, and manage cyber risk exposure, offer better control over cyber catastrophe risk, and prioritize profitability.