Getting cyber liability insurance in 2022 is becoming more difficult and expensive. Not only are insurance companies asking applicants to implement a litany of security controls, but they are dramatically raising the cost of insurance premiums anywhere from 75% to 1000%. Last year, there was a 500% percent increase in cyber liability insurance claims. In fact, cyber claims loss ratios hit a whopping 73% in 2021. Insurance companies are getting tired of paying for ransomware claims. They are now evaluating applications very carefully.