May 31, 2022
Cyber is both an excruciating challenge and an enormous opportunity for the insurance industry. Almost daily, there’s news of a ransomware attack, major hack, or data breach – and in this ever-changing threat landscape, only the most nimble, innovative cyber insurers are able to keep up.
The United States is leading the way in the global cyber insurance market, as revealed in Insurance Business America’s Five-Star Cyber Insurers 2022, which is available to read here.
To select the best cyber insurers for 2022, IBA enlisted some of the industry’s top experts. During a 15-week process, the IBA research team conducted one-on-one interviews with specialist brokers and surveyed thousands more within IB’s network to gain a keen understanding of what insurance professionals think of current market offerings.
Brokers were first quizzed on what features they thought were most important in a cyber insurance policy and then asked how the insurers they dealt with rated on those attributes. Insurers were measured on the strength of their relationships with brokers, ability to handle claims, underwriting expertise and, most importantly, the strength of the individual products they provide.
The top-scoring cyber insurers were named Five-Star Cyber Insurance award winners. Among the winners for 2022 are:
- Tokio Marine HCC – Cyber & Professional Lines Group
- Cowbell Cyber
- Risk Placement Services, Inc.
- US Fire Insurance Company (Crum and Forster)
For the full list of IBA Five-Star Cyber Insurers 2022 winners, you can read the full report on the Insurance Business America website.