Aon: Cyber attacks rank first among major risks

A report published by the broker Aon lists cyber attacks as the biggest risk to businesses. The shortage of materials and the economic situation take second and third place in the ranking.

Bart Van Gysegem, Manager at Aon Belgium, explains that worldwide the ransom paid in H1 2021 exceeded 300 million USD, a very small amount compared to the losses that can be caused by business interruption.

The ever-increasing number of claims is exhausting the capacity of the insurance market to the point that insurers have started to worry and are becoming more and more reluctant and selective when it comes to cyber risks.

A snowball effect has therefore been created: customers are less and less protected and coverage rates are more and more expensive. Insurance premiums for cyber risks increase by 10 to 30% on average each year.