Broker Check

Who Pays Most For Cyber Insurance?

January 05, 2022
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According to a survey by AdvisorSmith (posted at https://.www.propertycasualty360.com/2022/01/04/advisorsmith-industries-with-the-highest-cyber-insurance-premiums), the industries with the highest average Cyber insurance premiums are those that run on transactional information.

Industries with the highest average premiums:

  1. Payment processing.
  2. Financial services, other than investment.
  3. Investment services.
  4. Law firms.
  5. Insurance.
  6. Pharmaceuticals.
  7. Gaming.
  8. Oil and gas.
  9. E-Commerce.
  10. Telecommunications.
  11. Health care.
  12. Banking.       

Premiums for individual firms will be determined by underwriters' assessment of risk. More to the point, in purchasing Cyber insurance good coverage is more important than low price. At Beacon we try to place the best coverage available at an affordable price.