New product designed to monitor the cyber MGA market launched

The QualRisk Cyber Insurance Center (QCC) has released a new product that can monitor the cyber managing general agent (MGA) market.

Called the Cyber MGA Periscope, the product will provide insights into the historical, current and forecasted future dynamics of the market, the latest financing and M&A activities, as well as detailed profiles of firms.

Tracking MGAs in the US, Europe and the Apac region, it is available for one-time purchase, or on a subscription basis with semi-annual updates provided to subscribers.

“MGAs have been and are a crucial part of the cyber insurance value chain, driving much of the recent top-line premium growth and receiving more than $1.5bn in venture capital funding in the past eight years,” said Daniel Kasper, chief executive at QCC.

“However, our Cyber MGA Periscope report reveals that the cyber MGA market has today reached a pivotal crossroad.

“While profiting from the steep cyber insurance rate increases prior to 2023, the recent interest rate increases, plummeting insurtech investments and a second surge of ransomware in addition to the CrowdStrike incident are putting many MGAs under pressure to secure funding and capacity at favorable terms.”