Cyber risk insurance: a long journey ahead

Like climate-related risks, cyber threats are becoming a growing concern for insurers. While large corporations are relatively well protected, with over 80% having coverage, small and medium-sized enterprises (SMEs) are lagging behind.

Despite a 32% increase in underwriting in 2024, only 10% of SMEs are currently insured. As for the consumer market, it remains largely underdeveloped.

Several factors continue to hinder the expansion of cyber risk insurance:

• the high cost for SMEs
• limited coverage tailored to the needs of small businesses and individuals
• ongoing market volatility

Moreover, with the rapid advancement of artificial intelligence, cyber threats are likely to become even more severe, underscoring the urgent need for appropriate coverage.