Cyber insurance industry 2021

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<title>Cyber insurance industry 2021</title>
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<dateIssued>2022</dateIssued>
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<abstract displayLabel="Summary">The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020 and will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. This report reveals that cybersecurity was thrust into the spotlight in 2020 as the COVID-19 pandemic forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. This has made the need for cyber insurance apparent to businesses, but the market is not as easy to navigate as it once was.</abstract>
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<topic>COVID-19</topic>
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