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Premiums for cyber risks will outweigh the other types of insurance, says Aon

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June 8, 2018 09:45

The volume of premiums for insurance against cyber risks will surpass that of other types of insurance, according to reports ofAon Inpoint. It is the sector that will experience growth in premiums, the more rapid by 2021, adds the firm. The sectors of finance, mines and minerals, and media and technology, will also a rapid growth of 6 % compared to the other sectors of activity through until 2021.

Aon has worked to study the growth of premiums between 2013 and 2017, in order to identify trends until 2021. In the past five years, the sector of the insurance of cyber risks has experienced the highest annual growth in premiums, which amounted to 23 %. The global value of the premium will be of $ 4 billion (G$) by 2021 with a compound annual growth rate of 14.1 %.

Protection of intellectual property

Michael Moran, chief executive officer, Aon Inpoint, explains that companies are much more oriented towards the protection of immaterial property. «There are many reasons for this resurgence in attention and premiums, ranging from the protection of the financial statements as a result of a business interruption to the constant evolution of the economy and regulatory world, including the general regulation on data protection in the european Union. «

In 2017, Aon points out that the manufacturing sector is one that has generated a premium volume the highest at a global scale with 111 G$. The sectors of agriculture, fishing and forestry follow with 72 G$.

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