Study. 41% of companies worldwide require insurance against cyber risks


A growing number of business leaders around the world, 41%, are considering taking out cyber insurance in the face of growing threats in this area, according to a study published Friday by the German group Munich Re.

This proportion was only 35% in 2022, according to the multi-year study on cyber risks carried out by the German reinsurance giant.

In 8% of cases, respondents indicated that their company had considered taking out an insurance policy but rejected the option, and 9% said they had no intention of taking out this type of policy.

The survey, conducted among more than 7,500 participants in 15 countries and various sectors, also reveals that 87% of respondents consider their organization poorly prepared for cyber threats, a proportion up 4 percentage points compared to 2022.

Among the factors explaining the absence of subscription to cyber risk coverage, the price (33% of responses) comes before the lack of awareness of the offer and the lack of understanding of the products.

The finance (39%) and IT (34%) sectors, which are among the sectors most affected by cyberattacks, have the highest values ​​in terms of insurance contracts already concluded.

The global cyber insurance premium market totaled $14 billion in 2023 and is expected to reach around $29 billion by 2027, Munich Re estimates.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button