US cyber premiums up 10% to $2.03bn in 2018
Tuesday, 06 18 2019, Category: Insurance and Reinsurance, Country: United States
A new study by global re/insurance brokerage Aon indicates that cyber premiums grew to just over $2 billion in 2018, roughly a 10% increase from the prior year.
Premiums from package business grew modestly, rising 6% year on year, while standalone cyber premiums grew 14%. Premiums for small commercial-focused cyber insurers grew 19%.
Additionally, 184 US insurers reported direct cyber written premium to the National Association of Insurance Commissioners (NAIC) in 2018, up from 170 in 2017.