Cyber insurance demand rises as global tensions fuel surge in digital threats
Cyber insurance has become the fastest-growing area of demand in the insurance sector, as conflicts and geopolitical tensions increasingly spill into cyberspace. Organizations are reportedly investing ever more heavily in protection against cyberattacks, while insurers are adapting coverage and response capabilities to address complex, politically driven digital risks, according to new findings from GlobalData.
A GlobalData poll conducted across its Verdict Media network, found that 27.4 percent of industry professionals expect cyber insurance to see the sharpest increase in demand. This placed it ahead of political risk insurance at 25 percent, supply chain insurance at 23.8 percent, and business interruption insurance at 13.1 percent. The data suggests that concerns about digital security now outweigh those linked to traditional operational and political exposures.