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Indian River County Board of County Commissioners 'Gallagher <br />360. <br />Cyber: Still a volatile class <br />Median cyber insurance rates remained largely flat through 2023 after declines during 2022, reflecting an <br />uptick in claims and underwriters' evolving risk appetite. <br />As a somewhat unpredictable class of business, the pricing cycle within cyber is more volatile than what <br />we see in some more established classes of business. <br />• Cyber intrusions continue to grow in sophistication, with hackers targeting digital supply chains and <br />increasingly leveraging Al to carry out social engineering, ransomware and phishing attacks. <br />• Insurance buyers with a sophisticated approach to cybersecurity will benefit from greater resilience, as well <br />as access to more capacity and better terms and conditions. <br />Cyber Rate Trends Q4 2019 - Q4 2023 <br />97.1% <br />100.0% 87.0% <br />82.9% 83.3% <br />80.03'0 {`,. 1.8% <br />60.0% 55. f 50.2% i <br />45 <br />40.0% 30.9 ? 37.0% 37.0% .. 34 5 1% <br />20.1%6.3% 62% ! 1 <br />20.0% 5.8% 7.1% <br />11.9% .6% I. '6N2.4% <br />j. <br />i.0. <br />0.0% <br />Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 <br />-20.0% 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 <br />Median Rate Change 75th Percentile Rate Change <br />