Cyber pricing hardens over 30%, says Aon
Market conditions for cyber insurance in the UK remain challenging with prices hardening by over 30% for the first quarter, according to an update by Aon.
The global giant detailed in its Global Markets Insight Report for Q1 that geopolitical events in Eastern Europe had served to exacerbate and complicate matters for the UK cyber insurance landscape.
Cyber continued to be the most challenging line of business, experiencing a further reduction in capacity and the application of exclusions as well as the increase in pricing, Aon detailed.
According to the broker, the pool of capital has continued to reduce with insurers cutting aggregate limits
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