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Cyber Insurance Market Likely To Be Worth $25B By 2026 | #malware | #ransomware | #hacking | #aihp



By Dawood Fakhir (June 6, 2022, 12:02 AM BST) — Premiums in the global cybersecurity insurance market are expected to more than double to over $25 billion by 2026 because of increased demand as the number of ransomware attacks has soared in recent years, an international insurance broker said Monday.

The Howden Group said in its annual cyber-report that gross written premiums in the cyber-insurance market will swell, based on predictions of a 25% compound annual growth rate. The increased capacity of insurers to accommodate more policies will also contribute to the growth, the report said.

Howden predicted that the U.S. will remain the biggest market for cyber-insurance, although Europe will…

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