What will drive the cyber insurance market over the next 3 years?
By GlobalData
The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19.
Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020.
The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
- Benchmark yourself against the rest of the market.
- Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
- Prepare for how regulation will impact cyber insurance over the next few years.