Cyber-Insurance Premiums to Double to $23 Billion in Three Years

The cyber-insurance market is expanding at a rapid clip, with global written premiums set to more than double to $23 billion by 2025, according to Swiss Re AG.

While insurers worldwide wrote $10 billion in cyber premiums last year, that amounted to “just a fraction of total losses from cyber attacks,” the Zurich-based reinsurer said in a study released Monday. Only 55% of businesses have cyber policies, with less than 20% having limits that exceed the median ransomware demand, Swiss Re said, citing a recent survey.

The years since the onset of Covid-19 have marked a turbulent period for ...