Cyber Insurance Poses Significant Risks to Re/Insurers’ Stability
Cyber insurance offerings expansion could pose significant risks to the financial stability of re/insurers if not managed with caution
Global Cyber Insurance Market is estimated to reach over USD 91.22 billion by 2031, exhibiting a CAGR of 23.78% during the forecast period. Cyber insurance covers a cyber-related security breach or another comparable event. While cyber insurance has been around for almost 20 years, it’s the first time the product has faced a hard market.
The global cyber-insurance market is still anticipated to grow from $12bn worth of annual premiums to $60bn in the next five to ten years according to Lloyds. But much of that growth is due to premium rate increases, rather than increased take-up rates or the broadening of coverage.
In this section, we have collected the most current articles and reviews on the topic of the Cyber Insurance Market.