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Hard cyber insurance market creates challenges for buyers

Posted On: May. 13, 2022 9:59 AM CST


Shannon Fort, partner at insurance brokerage McGill and Partners Ltd., said that an increasing number of businesses are unable to buy cyber insurance as several insurers withdraw from the market and capacity shrinks, Commercial Risk reported. Meanwhile, Alec Cramsie, head of London wholesale cyber and technology at Beazley PLC, conceded that buyers with a poor cyber risk profile might find it difficult to obtain cyber cover.