EMPHASIS:
Cyber Risks insurance: When reality sharpens ingenuity
Covering so-called Cyber Risks is relatively
new in the insurance industry. It all started on a beach in Hawaii in April 1997, during the International Risk Insurance Management Societyannual convention. Originally,
the idea was mainly focused on offering
a product capable of protecting companies
whose data had been stolen from their
servers.
Almost three decades later, the world of IT
in 2025 is quite different - and, above all,
much more dangerous. According to recent projections,the Cyber Risk insurance market should reach $16.3 billion by 2025 and rise to almost double that ($30 billion) by 2030.
This insurance market data closely follows
the increase in attacks and losses related
to cybercrimes, which have soared to $9.5
trillion by 2024, a significant increase on the
$600 billion recorded in 2018.
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