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Cyber insurance in 2026-27: More tools, evolving threats, and the risk of a ‘race to the bottom’
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BOXX's Neal Jardine predicts that the next two years will see cyber insurers putting more value-added tools into clients’ hands – without raising premiums.
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Jardine expects a major differentiator will be insurers making internal protection tools available to policyholders.
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Jardine also highlighted that artificial intelligence is transforming the way that bad actors exploit dark web data.
After the premium shocks of 2020, will insurers resist loosening controls in the fight for market share?
The next two years will see cyber insurers putting more value-added tools into clients’ hands – without raising premiums – as the market navigates evolving threats and a delicate balance between accessibility and risk controls.
That’s the prediction from Neal Jardine (pictured), chief cyber intelligence and claims officer at BOXX Insurance, who said the coming phase of cyber protection will be marked by expanded services, shifting criminal tactics, and a need to avoid repeating past market mistakes.
Moving client tools from behind the curtain
Jardine expects a major differentiator in 2026 and 2027 will be insurers making internal protection tools available to policyholders.
“I think the most pressing factor… is investing in more predict-and-prevent services without the additional cost,” he said. “All those services that we use to help protect our clients, we’re now going to start giving those to our clients to use as well.”
Through BOXX’s member platform, this means access to supply chain scanning tools, employee credential monitoring, news alerts, and policy templates – resources that can help organizations vet partners, detect vulnerabilities early, and make informed risk decisions.
Jardine believes this model will help grow the cyber market by empowering clients to make better security choices before a claim ever arises.
“We’ve already rolled out these scanning and monitoring tools so our clients can make informed decisions about who they work with and partner with. By helping them assess and mitigate risks up front, we’re not just protecting businesses we’re driving sustainable growth in the cyber market,” he said.
Avoiding a repeat of 2020’s premium spike
On the market cycle, Jardine is cautious. While he does not foresee dramatic swings, he warns against a trend that could destabilize pricing in the medium term: insurers removing critical risk controls to stay competitive.
On the market cycle, Jardine is cautious. While he does not foresee dramatic swings, he warns against a trend that could destabilize pricing in the medium term: insurers removing critical risk controls to stay competitive.
Cybercrime’s corporate playbook
Speaking to Insurance Business, Jardine also said that artificial intelligence is transforming the way that bad actors exploit dark web data.
On the criminal side, AI tools can automatically scan vast troves of stolen data, identify patterns, and match email addresses with passwords sourced from multiple breaches. This allows attackers to discover common password habits, guess credentials across multiple platforms, and accelerate account takeovers.
While AI remains the most powerful enabler for cyberattackers, Jardine notes that more organized criminal ecosystems represent another major shift in the threat landscape.
Looking ahead, he believes dark web threats are evolving beyond lone actors or loosely connected forums. Increasingly, cybercriminal operations resemble almost specialized corporate structures, Jardine said.
“The dark web threat is evolving, many criminal groups now operate like corporations, with specialists in different areas working together toward a common goal,” he said. These invite-only or private groups pool skill sets, from initial network access brokers to ransomware deployment specialists, to maximize efficiency and impact, he pointed out.
Broker education catching up fast
While some in the industry highlight a persistent knowledge gap among clients when it comes to cyber threats, Jardine said brokers have made significant strides in recent years.
“Brokers have come a long way in understanding cyber risk, and many are now true partners in protecting their clients. They’re not just placing policies, they’re educating, advising, and guiding businesses,” he said.
Unlike cyber specialists who focus on one product line, brokers must be conversant in multiple coverages – from D&O to privacy liability – while still keeping pace with the fast-changing cyber landscape, he said.
He credited joint efforts between insurers, MGAs like BOXX, and broker partners for driving awareness. “We do webinars, we do articles, we do educations,” Jardine said. These resources help brokers update clients on emerging attack trends and reinforce the importance of cyber coverage as a long-term safeguard rather than a one-year transactional purchase.
“The cyberattack of two years ago isn’t, for the most part, the prominent one now,” Jardine said, emphasizing the need for continuous education.
“The landscape changes fast and staying on top of the latest attack vectors can be difficult. That’s why partnering with a cyber insurer that’s not just a loss transfer provider but a partner in staying ahead of cyber events and predicting them is important. Afterall, you don’t buy a cyber policy expecting a loss this year, you buy it knowing that, at some point in your lifetime, an attack will come. And when it does, the impact can be significant.”
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This article was originally published on Insurance Business.
About BOXX Insurance
BOXX Insurance helps businesses, individuals and families insure and defend against cyber threats, harnessing the power of ALL IN ONE Cyber Insurance and Protection. Headquartered in Toronto, Canada, with offices worldwide, BOXX is a global, award-winning provider of cyber protection services & cyber insurance coverage.
We're not a typical insurance company. That's by design. We're obsessive about making our clients’ digital worlds safer and more livable; creating real, positive changes for our clients, partners and brokers. With comprehensive, technologically advanced products and services that have a strong emphasis on predicting, preventing and insuring against negative cyber events, BOXX is dedicated to protecting and digitally safeguarding our clients, our brokers' clients and our partners' customers, 365 days a year.
BOXX Insurance Inc. is part of Zurich Global Ventures, a global platform business providing products and services that go beyond traditional insurance. Zurich Global Ventures aims to get closer to customers by offering customized, proactive and digital experiences that empower individuals and businesses to be better prepared for the future.
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