Trend | Range | |
---|---|---|
Special contingency risks – kidnap and ransom | -5% to +5% |
While the prevalence of cyber exclusions will send insureds looking for other solutions to cyber extortion risk, kidnap and ransom products are being increasingly sought out for active assailant risk cover. Insurers are also beginning to restrict coverage for exposure in Belarus, Russia and Ukraine.
The pandemic has so far not had a direct impact on this insurance sector, but it has changed the nature of the risk.
Insurers are tightening policy language pertaining to cyber events that could be considered part of a ransom scenario.
Coverage restrictions for Russia, Ukraine and Belarus:
Interest in active assailant coverage is growing.
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