Chubb continues to grow in cyber as rates top off: Greenberg

Chubb continues to grow in most areas of the cyber insurance space even as rate growth tops off given a broad sense of price adequacy, Chubb CEO Evan Greenberg indicated.

“The underwriting: we're vigilant; the growth: we're growing; the pricing: it's pretty good,” Greenberg told his company’s second quarter earnings call when asked about the segment. Overall the rate environment in cyber “has levelled off.”

Growth is not universal throughout the cyber space with unspecified sub-segments leading overall cyber growth for Chubb. “There are some segments that need rate and in those areas we're leaning back a little bit.”

Greenberg downplayed the market’s more recent fetish with wordings and exclusions with a claim that Chubb had long since been ahead of the market in T&C.

“We were first to roll out a form that addresses systemic risk to a greater degree and addresses the severity in ransomware and other one-offs,” Greenberg said.

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