Increasing cyberattacks on medium-sized companies are having an impact on the insurance market.
“Cyber premiums are exploding right now,” reports Christian Hörtkorn, managing director of Heilbronn-based insurance broker Dr. Hörtkorn. Anyone who wants to insure themselves against cyberattacks has to pay three to four times as much today as they did two years ago, he said. The market for cyber insurance has completely turned around, he said. “Some insurers are pulling back or not even making offers anymore,” Hörtkorn says. Medium-sized companies would have a hard time getting new contracts, especially since the insurers’ requirements for the respective IT structure of the customers are also constantly increasing.