As per the QualRisk Cyber Insurance Center (QCC) 2024 Global Market Report (GMR), the international cyber insurance market is expected to double by 2030.
Daniel Kasper, CEO of QCC, noted that while the US has been the major driver of cyber insurance premiums in the past decade, the bulk of the future growth will be generated in other regions, starting with Europe in the remainder of the 2020s and Asia well into the 2030s.
The report additionally highlighted that global cyber insurance premiums grew 6% in 2023, the slowest rate of growth since 2019, reaching a total global premium of $14.4 billion.
