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Instant Insights / 2021: Insurance trends and issues to watch

After a year as challenging as 2020, insurance professionals and insureds looking at 2021 with a positive outlook. But that doesn’t mean they are resting on their laurels. Now is the time for agents, brokers, and insurers to strategize for the months ahead. These articles provide insights into the insurance and risk management trends to keep top-of-mind this year.

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The cyber insurance firms that will be ahead of the curve are the ones that offer helpful tools, speak in layman's terms and collaborate with the cybersecurity sector. (Shutterstock) The cyber insurance firms that will be ahead of the curve are the ones that offer helpful tools, speak in layman’s terms and collaborate with the cybersecurity sector. (Photo: Shutterstock)

According to recent research conducted by Cowbell Cyber, 65% of small and medium-size businesses (SMEs) are planning to spend more on cyber insurance as part of their cyber resilience plan in the next two years. This comes as little surprise in the midst of COVID-19 as cybercriminals have become more opportunistic, and have developed new tactics to wreak havoc on their victims.

It is critical, now more than ever, for organizations to insure their most valuable assets, which of course includes their digital assets.

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