20 Global insurance markets: Financial and professional lines pricing declines • Professional indemnity (PI) insurers were keen to explore smaller organizations, with Cyber insurance remained challenging, with rate increases of 25% or more experienced by customized o昀昀erings at competitive rates. some clients. – Some large and/or complex PI programs, especially from the communications, media • Concerns continued regarding claims, systemic risk, geopolitical tensions, and and technology (CMT) sector, experienced average rate increases ranging from 5% to ransomware. 10%, due to blended program structures with cyber coverages. • As in other regions, there were signs in the quarter that the cyber insurance market is • Insurers demonstrated caution regarding digital-asset related companies due to systemic stabilizing. risks resulting in volatility in asset pricing that can lead to sharp decreases in value, and potential liquidations.