My good friend Judy Greenwald at BusinessInsurance.com
reported that Aon PLC stated that “Policyholders can expect
20% to 50% rate increases for cyber coverage throughout 2021 as
trends that began last year continue at an accelerated
pace,…” The March 4, 2021 report entitled
“Cyber insurance rates to increase 20-50% this
year: Aon” included these comments from Aon:
To maintain a commitment to long-term stable cyber capacity,
insurers are reviewing areas in their portfolio where underwriting
action is needed, and reevaluating capacity deployment,
specifically as it relates to ransomware losses,...
….trends to watch include errors and omissions
exposures stemming from many organizations' accelerated
digital transformation initiatives; potential vulnerabilities from
the use of Remote Desktop Protocol software; breach regulations, as
the regulatory environment continues to grow in complexity; cyber
extortion, with ransomware attacks evolving to include the
