Challenges for Cyber Insurance Market’s Growth Potential
The realisation of the cyber market’s growth potential is tied to geopolitics and macroeconomics, but also sme penetration, tail-risk management
“Cyber Losses” focuses on financial losses resulting from cyber incidents. This includes losses from data breaches, ransomware attacks, and other forms of cybercrime that impact businesses and individuals. It covers the direct costs associated with these attacks, such as legal fees, recovery expenses, and compensation for affected parties.
The category examines the indirect costs, including reputational damage and operational disruptions. The review provides insights into the trends and patterns of cyber losses, highlighting how different sectors are affected and the measures needed to mitigate these risks. By analyzing case studies and expert opinions, it offers a comprehensive understanding of the financial impact of cyber threats and the importance of robust cybersecurity measures.
The realisation of the cyber market’s growth potential is tied to geopolitics and macroeconomics, but also sme penetration, tail-risk management
Whilst there have been no cyber attacks of comparable scale since the invasion of Ukraine, the scope of cyber insurance, and the war exclusions issue specifically
The cyber warfare in Ukraine, a clash of titans in terms of cyber security, has considerable implications for the cyber threat landscape
Companies that have strong cyber security hygiene are reducing the risk of being targeted by cybercriminals. Investment in cyber security is crucial in this environment
The cybersecurity research reveals some organizations are using cybersecurity as a differentiator to deliver better business outcomes
The cost of cybercrime Accenture’s study helps to quantify the economic cost of cyberattacks by analyzing trends in malicious activities over time
Beinsure Media has collected the opinions of cybersecurity experts and presents a Cybercrime Predictions review for 2025
In response to uncertainty around cyber risk, insurance providers have become more selective in their underwriting through better risk selection, lower limits, cyber insurance
The resulting losses from a systemic cyber event could be very large, impacting companies, the broader economy and society at large
The largest ransomware pay-outs by cyber insurers in the last two years has averaged £3.26 million in the UK and $3.52 million in the US