Cyber-Insurance Premiums Rocket

Average rates for retailers meanwhile surged 32 percent.

Tara Seals

The rash of hacking attacks on US companies over the past two years has translated into big insurance rate increases for cyber-premiums.
Insurers are also raising deductibles and sometimes limiting the amount of coverage to $100 million for companies in high-risk industries, like retailers and health insurers.
The latter group is bearing the brunt of the trend, with premiums in some cases tripling at renewal time. Average rates for retailers meanwhile surged 32 percent in the first half of this year, after staying flat in 2014.
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