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Cyber Insurance: Rates Falling

from PIA Western Alliance

Marsh released a report last week that shows cyber insurance rate falling. In 2015 after the Target, Home Depot, Anthem and other breaches rates leaped 28%. Since then major breaches have fallen off and in the first three months of 2016, rates have plummeted 13%. So high risk firms like healthcare companies and retailers have seen rates fall from $21,642 for $1 million in coverage to $18,756. Robert Parisi — a cyber insurance executive for Marsh — said, "Pricing has stabilized. There is only so far things can go before people choke and say 'I've had enough'." more

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