Cyber Liability
Cyber Market Overview › Entering Q2 2025, the Cyber market remains stable and increasingly competitive, fueled by new entrants and an abundance of capacity. Depending on a program’s existing premiums, changes in revenues, claims activity and changes in controls, renewals range from flat to 10% - 20% decreases. › While the marketplace is favorable for buyers and new entrants, cyber incidents have not slowed down. Increasingly sophisticated threat actors, exploitation of zero-day vulnerabilities and attacks on large software providers have resulted in ransomware attacks, vendor data breaches and complex social engineering attacks. Threat Landscape › According to cyber extortion services firm Coveware, the average ransomware payment in Q4 2024 was $553,959. While this represents an 16% increase from the prior quarter, this may be attributed to outlier ransom payments. › Median ransom payments, which better represent the market, decreased by 45% to $110,890. Data shows that only 25% of companies are paying ransom demands due to improved security controls, law enforcement efforts to dismantle cybercriminal groups and increased resilience. › Email phishing, business email compromise and social engineering events continue to be major loss leaders. These can have coverage implications on both cyber and crime policies. Review both policies with your broker to avoid coverage gaps. › Privacy litigation concerns are still rising for data security disclosures, biometric collection, and pixel and web tracking technologies, along with increased regulatory investigations and reporting requirements. › The number of data breach-related class actions continues to rise. According to Duane Morris LLP's 2025 Data Breach Class Action Review , the data breach class action lawsuits filed have increased by nearly 400% from 2021 to 2024. › Securities lawsuits alleging negligence, lack of board oversight on cybersecurity and failure to properly manage cyber risk have resulted in Directors & Officers liability claims. This has raised concerns for chief information security officers and the risk of personal liability given their roles and responsibilities.
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