NEW YORK, Oct. 17, 2024 /PRNewswire/ — QBE North America, in partnership with insurtech provider Zywave, today announced the release of its 2024 Cyber Insurance Report, exploring cyber insurance adoption and the effectiveness of risk management strategies. The report highlights the growing importance of cyber insurance in safeguarding business operations and identifies key opportunities for improving policy utilization and communication.
“The survey findings highlight the critical role cyber insurance plays in today’s business landscape, but they also reveal significant gaps in how these policies are utilized,” said Serene Davis, Global Head of Cyber, QBE. “Our industry needs to close these gaps by improving engagement and helping businesses fully leverage their cyber insurance to better protect against and respond to evolving threats.”
The survey of risk professionals and insurance buyers with primarily large organizations (nearly 50% of respondents had revenues exceeding $1 billion), revealed the following:
- Market growth: Cyber insurance has transitioned from a niche offering to a standard part of risk management strategies, especially among large companies. More than 80%…
