US cyber premiums grew 21% in 2020 amid increased loss ratios, says Aon

US cyber insurance continues to grow significantly, with direct written premiums increasing by 21% in 2020, according to Aon’s annual US Cyber Market Update, which analysed the profits and performance of US cyber insurers during 2020. US cyber insurance direct written premiums totalled $2.74bn in 2020, compared to $2.26bn in 2019 across both standalone and package cyber products. Aon notes…

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