CIAB

The premium hike marks the 16th consecutive quarter of price increases across all account sizes, rising 8.9%, up 0.6 points from the prior quarter, the survey said.

“This is an industry that must convene in person in order to serve our clients, and our plans for the meeting will be tailored toward that goal,” the CIAB said on Wednesday.

Respondents said that cyber underwriters were responding to the growth of ransomware attacks and poor risk management.

Last week, the CIAB released its survey data for Q4 commercial rates. In our view, it served as a perfect summation and accompaniment to the pricing disclosure and commentary shared by the carriers in the fourth quarter.