Cyber: an evolving picture

The insurance of cyber risk is maturing, according to Aon…:

[…] How do you see the cyber market evolving in the next year?
For the standalone affirmative cyber market, we expect to see a slowing down and stabilising of the current rate of coverage innovation, as the market finds greater comfort in, and focus on, what it is and is not for. We expect to see increased take-up in a wider variety of regions and sectors such as marine and energy.

We also expect greater clarity on which cyber coverage elements sit most appropriately in which product classes. Eradicating silent cyber does not necessarily mean driving all cyber exposures into the standalone affirmative cyber market.

Rather, we expect to see traditional classes accept their fair share of the exposure. For example, physical damage arising out of a cyber incident could sit in the property markets, or bodily injury in the general liability markets. Expect to see an acceleration in the settlement of that question.

Original article here