The Source for Cyber Insurance News, Insights and Data
According to a study by Evolve Business Intelligence, the global Cyber Insurance Market, valued at USD 18.2 billion in 2023, is poised to experience a robust 23.5% Compound Annual Growth Rate (CAGR) from 2023 to 2033. The market is dominated by North America, while the Asia Pacific region is poised to achieve the highest CAGR … Read more
A report from The Geneva Association emphasizes that safeguarding society against an unprecedented cyberattack necessitates more than just insurance. The report, Cyber Risk Accumulation: Fully tackling the insurability challenge highlights the escalating cyber risks attributed to growing geopolitical tensions and the widespread use of digital technologies. Global cyberattacks surged by 38% in 2022 compared to … Read more
We’ve reported extensively on the insurance industry’s fear of “cyber war;” debate over exclusions for state-backed, systemic cyber attacks; moves by governments to backstop the cyber insurance industry for massive attacks; and the challenges of current modeling of risk accumulation and catastrophic cyber events. Now comes a contrarian view from a leading cyber risk risk … Read more
Global insurance group Howden announced the appointment of Jean Bayon de La Tour as International Head of Cyber. The move marks a significant step in the company’s strategy to meet the increasing demand for insurance solutions against cyber-attacks. The move comes in a rising threat landscape. The cyber market is predicted to surge from USD … Read more
A new report from insurtech Resilience, Resilience Midyear 2023 Claims Report, reveals a significant shift in ransomware tactics. Cybercriminals are increasingly targeting larger organizations and employing encryption-less extortion methods. Key Highlights: The report attributes the trend in encryption-less extortion to the massive MOVEit file transfer platform hack in May 2023, which exposed the data of … Read more