| Cybersecurity Insurance, 2019-2023 (1) |
($000)
|
| Year |
Direct premiums written (2) |
Annual percent change |
Direct losses paid |
Direct paid loss ratio |
| 2019 |
$2,248,653 |
12.0% |
$458,796 |
22.7% |
| 2020 |
2,774,493 |
23.4 |
951,342 |
38.9 |
| 2021 |
4,795,741 |
72.9 |
1,329,509 |
37.1 |
| 2022 |
7,237,211 |
50.9 |
1,393,199 |
22.1 |
| 2023 |
7,247,923 |
0.1 |
1,389,709 |
18.8 |
(1) Includes stand-alone policies and the cybersecurity portion of package policies. Does not include premiums from companies that cannot report premiums for cybersecurity coverage provided as part of package policies.
(2) Before reinsurance transactions.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute. |
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