Brokers are reporting increasing demand for cyber reinsurance in 2020, across the range of structures available in the market, the latest annual cyber insurance market survey from PartnerRe shows.

Bermuda headquartered reinsurance firm PartnerRe has surveyed the cyber insurance market in partnership with Advisen, speaking to 260 cyber insurance brokers and 190 cyber underwriters from across the globe.

The results of the survey suggest that understanding of cyber insurance coverage has improved dramatically in the last year, while consistency in terms of pricing and coverage offered has also improved.

At the same time, insureds are constantly requesting increased limits of coverage from their cyber insurers, suggesting that the market continues its trend of steady growth.

Managing potential aggregation risks in cyber underwriting is a key theme running throughout the survey results, with respondents saying that use of outside vendors to help them manage aggregation risks is expanding, while around 90% of the respondents said that aggregation management is a key determinant in cyber insurance underwriting and pricing decision making.

Rates are on the rise as well, with brokers…

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