The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients. Removing the guesswork empowers CRC team members to negotiate competitively, consistently producing better outcomes, better deliverables, and better results.

CYBER REDY® INDEX - January 2025
MONTHLY RENEWAL PRICING ANALYSIS

Results displayed above reflect average CRC Group Cyber renewal pricing changes by month (over the previous 12 months). Results are limited to brokerage accounts that renewed in the same month as the prior year with the same total account limits. To remove outliers, the top and bottom 1% of accounts by YoY % change have been removed, as well as the top and bottom 1% of accounts by rate online (Premium/Limit*100). The REDY Index is intended for educational purposes only as individual accounts typically differ from average pricing trends.

CYBER EMERGING ISSUES

1. We've continued to see a rise in all types of claims across the cyber spectrum. Ransomware frequency continues to increase, though our clients today are significantly less likely to make an actual payment.  The outcome of this is larger network and data reconstruction costs and longer and larger business interruption claims.
2. We’ve seen a significant uptick in the amount of 3rd party litigation as part of ransomware claims, as well as non-breach issues around pixel and other web tracking technologies.
3. Regulatory authorities are also more active in their engagement with clients who have a cyber incident and fines & penalties are increasing as well.
4. The world of cybercrime, frequency of social engineering attacks continue to climb as well and the number of $1M+ wrongful transfers also grows.
5. As we close out 2024, we continued to navigate the market's mostly soft conditions. There are some classes that are exceptions to this trend, such as manufacturing, public entity, healthcare, auto dealers & schools. Q1 we expect soft market trends to continue.
6. As we get into Q2 and Q3, we expect to begin to see the market shift.  The claims frequency increasing while rates continue to decrease cannot continue at the rate it has the last few years.