The Expert Podcast

• Beazley, a major member of the Lloyd’s of London insurance group, shares insider data on the commercial and cyber insurance market.
• Their overall profits fell due to significant investment losses in stocks, bonds, and real estate.
• Despite these losses, the cyber insurance sector is booming.
• Beazley’s cyber insurance premiums nearly doubled from $267 million to $473 million in just one year.
• This surge reflects the growing risk of cybercrime and the need for digital protection in today's business environment.
• Insurance agents should take note: not offering cyber coverage may leave your clients exposed to major risks.
• Cyber risk may now be more probable than fire, E&O, slip-and-fall, or even commercial auto losses.
• Demand for cyber insurance is rising, with more clients actively asking for coverage instead of waiting to be informed.
• Insurers like Beazley are now better equipped to assess cyber risk using technology platforms that evaluate exposure in real-time.
• These tools help underwrite policies based on expected loss potential, not just past claims.
• New, non-traditional insurers are entering the market, creating more accessible products and coverage options.
• If you're a business owner or insurance broker, now is a great time to explore cyber coverage while the market is expanding.