Over the last 18-24 months the rate of ransomware attacks has skyrocketed in both frequency and severity, driving significant changes in the cyber insurance marketplace. In years prior, cyber submissions were simple and it was easy to obtain bindable quotes from multiple markets. When it came to renewals, underwriting typically only required updates around major business changes. But, times have changed and these days underwriters across the board are asking for more information related to ransomware loss controls and IT risk management. It’s now common practice to require that insureds have Multi-Factor Authentication (MFA) in place (especially when it comes to email access) before providing a quote for most accounts. Without MFA, clients risk non-renewal or a retention hike of 100% or more.