Light Upon CYber insurance / © Amrae - 18 - 2. FOUR-YEAR REVIEW OF CYBER RISK COVERAGE Cyber insurance is spreading to all strata of the economy “The results of the third edition of the Lucy study show a growing maturity of the cyber insurance market, explains Philippe Cotelle, board member of Amrae and chairman of its cyber commission, vice-president of Ferma and Risk Manager of Airbus Defence & Space. The experience gained in the large enterprise market is gradually spreading to Mid-cap companies, before infusing the small business segment.” This experience curve can be seen clearly in the diagram below: the movement starts with large companies, spreads one year later to medium-sized companies and then, the following year, to Mid-cap companies. The strong underwriting of large companies is reflected in the claims experience n Evolution of insured companies compared to previous year (%) n Loss Ratio (Claims/Premium) (%) Large companies Mid-cap companies Medium-sized companies 25 20 15 10 5 - -5 2022 2021 2020 21% 17% -4% % 60 50 40 30 20 10 - -10 2022 2021 2020 16% 53% -11% % 25 20 15 10 5 - 2022 2021 2020 12% 20% % 200 150 100 50 - 2022 2021 2020 190% 16% 58% % 100 80 60 40 20 - 2022 2021 2020 45% 100% 36% % 300 250 200 150 100 50 - 2022 2021 2020 85% 51% 261% % the following year same phenomenon for Mid Cap companies the following year same phenomenon for Medium sized companies
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