Healthcare Innovation October 25, 2024
The standalone cyber market is becoming less concentrated according to a new report by Aon
A new cyber market update report, covering the cyber insurance industry’s 2023 performance by insurer Aon finds that premiums reported to the NAIC (National Association of Insurance Commissioners) decreased one percent in 2023 to $7.18 billion, driven by declining written premium per policy. The U.S. industry loss ratio reported to the NAIC decreased by three points to 42 percent for calendar year 2023.
“Increases in written premium per policy from 2022 continued to earn into portfolios in 2023; however, declining standalone written premium per policy creates headwinds for...
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