Cyber insurance Market Size to Reach USD 22.5 billion by 2030 – KSU | The Sentinel Newspaper
#Cyber Insurance Market to surpass USD 22.5 billion by 2030 from USD 4.3 billion in 2018 at a CAGR of 26.2% throughout the forecast period, i.e., 2019-30. Several problems related to the management of digital security and privacy have been generated by rising digitalization within companies and economies. Due to the increasingly rising occurrence of cybercrimes, digital fraud, attacks, and data breaches, internet and internet risk management has become one of the top priorities for organizations. Owing to the growing effect of cyber-attacks on public safety, economic stability, and government cyber protection, increased penetration of cyber insurance products has led to substantial growth in the cyber insurance sector in recent years. In addition, increased awareness of business interruption (BI) cyber threats and a rising number of mandatory data protection laws for various end-users, such as banking, healthcare, and others, are some of the key factors driving the growth of the cyber insurance market.