Cyber Rates The attached article contains interesting information from Business Insurance regarding the cyber rate increases of 2022. The top right chart titled Cyber Pricing shows the dramatic increases experienced by all respondents during that time frame. You can directly correlate that to the bottom chart titled Claims Increase. We have seen a dramatic shift in claims activity from the Directors & Officers Liability and Financial Institution Bond areas to the cyber coverage part. Many banks are not watching this coverage line as closely as they should as it’s not just the total amount of insurance provided. Rather, and more importantly, it’s the Breach Response and Services portion that will directly impact your institution should you suffer a breach. FNBB Insurance Agency is here to talk at length about the differences and what to expect should these events occur.