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Increasing ransomware events drive rate increases at Beazley



U.K.-based insurer Beazley PLC saw higher rates across all insurance lines in the first half of the year, especially cyber insurance driven, which was by an increase in ransomware incidents, Reinsurance News reported. The insurer’s cyber and executive risk business reported a 31% increase in gross written premium to $548.8 million, bolstered by a 44% pricing hike.



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