The Source for Cyber Insurance News, Insights and Data
The global Cybersecurity Insurance Market is poised to experience robust growth, rising from USD 14.18 billion in 2023 to an estimated USD 32.52 billion by 2028. This reflects a CAGR of 18.06% during the forecast period. This analysis from Research And Markets. The surge is propelled by the escalating pace of digitalization, cloud development, Big … Read more
A recent study by Recast Software and Ponemon Institute found the cybersecurity insurance market is witnessing a significant uptick in demand. This rise comes as the scale and cost of cyberattacks continue to rise. The study, conducted in the Fall of 2023, revealed that 41% of organizations experienced a surge in cybersecurity incidents. That prompted … Read more
In response to the escalating threat of cyber attacks, the Third-Party Cyber Liability Insurance market is experiencing substantial growth worldwide. Organizations, recognizing the critical need for protection, are driving the surge in demand for this insurance. This insurance is a vital risk management tool, covering legal claims, regulatory fines, notification of and credit monitoring services … Read more
As noted in our earlier post, Woodruff Sawyer, the large American brokerage and consultancy, is out with an excellent new report: “Looking Ahead: Cyber Liability Insurance Concerns in 2024.” We thought their info graphic on how underwriters are looking at 2024 was worth a special call out.
After a brief respite in 2023, the cyber liability insurance market is bracing for turbulence in 2024. Woodruff Sawyer’s “Cyber Looking Ahead Guide” paints a sobering picture of rising cyber risks, potential policy gaps, and ransomware maintaining its reign of terror. Buckle up, businesses; it’s going to be a bumpy ride. War Clouds Gather: One … Read more