Cyber insurers handling claims uptick and rate cooling well: Greenberg

The cyber insurance market is retaining a sufficient measure of discipline as the hardening cycle closes out and signs of an uptick in threats take the fore, the CEO of global insurance group  Chubb has claimed.

“The cyber loss environment is not benign,” Chubb CEO Evan Greenberg (pictured) told his company’s Q1 earnings call, citing an uptick in frequency and severity for ransomware events after having been “temporarily” down.

“Cyber pricing and underwriting has responded to the external environment, I think, reasonably well,” Greenberg said. “If it maintains discipline , then I am not concerned.”

“I think it is reasonably disciplined in underwriting and pricing.”

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