The Source for Cyber Insurance News, Insights and Data
Cyberattacks are costing businesses millions – 88% of global cyber losses now tied to claims above $1 million, according to AXA XL. Analysis of more than 300 incidents reveals a stark reality: ransomware alone drives over 60% of recent large claims, with ransom demands spiking to an average of $32 million in 2023. The report, … Read more
Global Market Poised for Strong Growth – The cyber insurance market is projected to reach USD 73.5 billion by 2033. This estimate is courtesy of new research from the IMARC Group. It stood at USD 14.2 billion in 2024. This growth represents a 17.88% compound annual growth rate (CAGR) over the forecast period. Rising Threats … Read more
Ransomware Payments Persist Amid Decline in Demands It’s a strange pact, new and yet as old as time. A deal with the devil. Not a deal forged in fire but in fiber optics. A deal with a digital devil, the ransom is paid, and business goes on. A new report from cybersecurity firm Sophos reveals … Read more
A Growing Digital Battlefield You know cyberattacks are escalating. Ransomware, phishing, and supply chain breaches now pose a significant threat to European corporations, SMEs, and banks. As digitization deepens and third-party service reliance grows, organizations face heightened exposure. Morningstar DBRS warns that this cyber vulnerability spans every industry. But the report notes cyber insurance is … Read more
Time off can be a gift—when it’s planned. But when work screeches to a halt because of a disruptive cyber event, the losses are more than just productivity. A new report from QBE Insurance reveals that 1 in 7 businesses suffered an unplanned business interruption of one working day or more in the past 12 … Read more