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How MOVEit Is Likely to Shift Cyber Insurance Calculus

Progress Software, the firm behind MOVEit file transfer software, is to seek a full payout of its $15m cyber insurance policy following a security breach that affected major organizations. A claim relating to a previous incident has already been paid. Experts predict that continual high-value payouts will result in premiums rising and coverage requirements becoming more rigorous, as insurers are driven to increase revenues to balance loss ratios. A knock-on effect of this trend has been closer collaboration between insurers and policy holders to help shape risk profiles.

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