Cyber Insurance
Cyber insurance market grows 7% to $15b in 2024
Cyber insurance market grows 7% to $15b in 2024
Despite softer demand and rising competition, the sector remained profitable.
Higher premiums loom under Hong Kong’s stricter cyber law
Insurers will play a more active role in clients’ pre-breach cybersecurity strategies.
APAC insurance CROs lag peers on operational risk preparedness
Cybersecurity remains the leading risk in the region, cited by 62% of APAC CROs.
Clearer cyber risk benchmarks for Australian SMEs pushed
The financial fallout from a single cyber event can be devastating.
Where is cyber insurance growing fastest across regions?
Asia/Oceania are expected to expand their market shares to 8% by 2027.
Few Singapore SMEs have cyber insurance
They seek to ward off cyber threats but not through insurance.
Cyber insurers focus on SMEs as policies cover firms under $10m
SMEs account for more than 80% of all cyber policies.
Cyber insurance premiums to hit $23b by 2026
S&P anticipates APAC to have one of the fastest growth rates.
How is APAC leading with AI to fight insurance fraud?
74% of respondents reported that fraud cases are either stable or increasing.
APAC insurers increase cybersecurity investments by 48%
Insurance premiums for cyber policies rose by 70% from 2020 to 2022.
CrowdStrike meltdown may shore up cyber insurance premiums
Insurers are refining their policies after the global tech outage to better manage risks.
Moody’s advises on cyber policy clarity post-CrowdStrike event
The extent and terms of coverage within individual policies will vary.
Expert debunks misconceptions impacting cyber insurance investment
A Forrester report found that only a quarter of firms possess standalone policies.
Cyber insurance costs drop amidst improved cyber hygiene
Global cyber insurance to hit $43b by 2030, Howden projects.
Singapore leads in cyber insurance with 96% adoption rate
About 76% of businesses reinforced cyber defences to qualify for insurance.
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