A recent survey by the American Property Casualty Insurance Association and the Council of Insurance Agents & Brokers indicates that the property/casualty insurance industry is playing a significant role in enhancing cyber hygiene across the U.S. The survey revealed that 75% of participants believe emerging gaps in the cyber insurance market will eventually be addressed. Additionally, 69% reported instances where applicants were denied cyber insurance due to lack of minimum security practices, highlighting the industry’s emphasis on requisite safety measures. Respondents expressed optimism that coverage adequacy and related liabilities will improve within the next three years.
