Allianz expects a significant growth in the cyber insurance market

In a recent report, "the guide of cyber-risks," the specialist insurer Allianz Global Corporate & Specialty (AGCS) indicates that the cyber insurance market will grow tenfold during the next decade to reach 20 billion USD by 2025.

According to the same report, companies must get prepared for cyber-attacks of a new kind. Those attacks will include data breach, business interruption with the possibility of potentially catastrophic operational damage.

Currently, the cyber insurance market generates an annual premiums volume estimated at 2 billion USD. The United States is by far the country where companies are most concerned with this risk with nearly 90% of global underwritings.

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