2021 Cyber Insurance Market Update
Manage episode 348914062 series 3253635
Cyber risks are growing in frequency, severity, and complexity, making them among the biggest threats of our time facing businesses and their insurers. Cybersecurity breaches are happening at a rapid pace because malicious actors continue to evolve their techniques while targeting new victims in an effort to stay one step ahead of today’s best risk-mitigation strategies.
How does that translate into dollars? The collective additional cost and lost revenues companies face from cyber attacks could reach as much as $5.2 trillion during the coming three years, according to a report from Accenture plc. Meanwhile, the data and analytics company GlobalData has reported that gross written premiums for the cyber insurance market are projected to reach $20.6 billion by 2025.
https://www.podchaser.com/podcasts/mayur-rele-computer-1305597
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