Cyber insurance: global market premiums set to rise in 2030

British insurer Beazley forecasts an average annual growth of 18% in the global cyber insurance market between 2024 and 2030.

Premium volume would rise from 15 billion USD in 2024 to 40 billion USD in 2030.

This growth would be driven by increasing demand for cyber insurance policies, as the cost of cyber risk continues to soar. According to Beazley, global cyber losses are expected to reach 23 840 billion USD by 2027.

Strong demand for cybersecurity services is also likely to boost growth in this sector.

The cyber insurance market is dominated by North America, followed by Europe.