Cyber insurers put power utilities and transport atop H2 watch list

Cyber insurers may prove most sceptical of clients in the power and utilities sector going forward, followed by concerns for aviation, transport and logistics clients, cyber leaders at global brokerage  Aon have said.

“Going into the second half of this year, there's going to be much less appetite or much more technical underwriting,” Aon's APAC head of cyber solutions Adam Peckman told an Aon Insights seminar in Singapore.

Some 76% of cyber insurers in a survey of its partners told Aon that power and utilities would face the tightest levels of scrutiny.

Some 659% of Aon's risk-carrying partners named either aviation or transport and logistics to the at-risk list of industries requiring tighter scrutiny.

Both the energy sector and the broad TMT sector were placed on the at-risk list by 53% of Aon's insurance partners.

Peckman sees common themes running through the cyber insurer risk ranking: systemic risks tied to the current geopolitical conflicts plus end-of-life considerations for aged tech systems.

“Thematically across those industries we see the same underwriting topics come up as well,” Peckman said.

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