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Insurers deny cyber premiums are rising

Contrary to banks’ complaints, underwriters and brokers claim current market for policies is soft

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Insurers and brokers reject complaints from large banks that premiums for cyber risk coverage are still on the rise – after they rocketed a couple of years ago – and reckon the current market is instead “soft” and favourable for clients.

Last week, Risk.net reported that the majority of global systemically important banks (G-Sibs) believe the cost of insuring against cyber losses continues to climb

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