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Cyber insurance rates slide despite JPMorgan CEO warning on AI risk
Marsh data shows US cyber premiums fell 2% in the second quarter of 2026, marking the 12th straight quarterly decline, even as JPMorgan CEO Jamie Dimon said AI risk for banks rose 10-fold after Anthropic's Mythos.
JPMorgan Chase CEO Jamie Dimon said AI cyber risk increased sharply after Anthropic's Mythos model, telling Bloomberg Television that the bank saw AI-related risk go up 10-fold.
Dimon linked the jump to the technology exposing vulnerabilities the bank had not known existed, in an area he said the firm already viewed as a major concern.
Despite the warning, cyber insurance pricing has not yet reflected the threat on renewal terms, according to Insurance Business citing Marsh's Global Insurance Market Index. US cyber rates fell 2% in the second quarter of 2026, while global cyber rates declined 4%, marking the 12th consecutive quarterly drop.
The outlet said the gap between escalating boardroom risk warnings and continuing premium declines has become the central question for cyber underwriters and the brokers placing the coverage.