Cyber insurance premiums to more than double by 2025

A report by Swiss Re Institute said that the global cyber insurance premiums are expected to reach $23 billion by 2025, up from an estimated $10 billion in 2021, as rapid digitalization and growing cyber security risks create new business opportunities for insurers, Reinsurance News reported. The report highlights that the increasing risk of cyber attacks is driving awareness and demand for cyber insurance as companies and individuals seek protection against cybersecurity incidents.