Cyber insurance is harder for companies to find than it was a year ago — and it’s likely going to get harder. While cyber insurance is becoming more of a must-have for businesses, the explosion of ransomware and cyberattacks mean it’s also becoming a less enticing business for insurers. The average ransom payment shot up 82 percent from 2020 to 2021. By the middle of last year, the number of ransomware attacks was up more than 150 percent over the entirety of 2020. And this has had direct implications for the insurance industry: The uptick in attacks — and payouts — has meant steeper losses for insurers and dulled their appetites for this emerging and often volatile class of business.