The struggle to identify appropriate policy limits continues to frustrate many in the market for cyberinsurance. So does the difficulty involved with comparing premiums across policies offering coverage terms with a lot of variation. But publicly available data continues to improve, and this piece from the folks at Cyber Data Risk Managers is particularly interesting. CDRM shared data on 34 actual clients’ premiums and limits based on industry and annual revenue. Among the highlights:
Highest Revenue: A pharmaceutical benefits management company with annual revenues of $4B bought a policy with a $5M limit for a premium of $84,000.
Highest Limits: A data storage center with annual revenues of $15M bought a policy with a $20M limit for a premium of $120,000.