Cyber risk is no longer a technical problem, it’s a board-level conversation. Yet, even as ransomware attacks dominate headlines and the costs of breaches climb, the global cyber insurance market is still maturing, uneven in its reach, and sometimes misunderstood in its value.
A Market Growing Up Quickly
Cyber insurance is now estimated to be a $17 billion global industry and projected to nearly double to $40 billion by 2030. But the next phase of growth won’t come from the Fortune 500. Large corporations already understand their exposure and have the internal expertise to evaluate and transfer risk. The untapped market lies with the lower end of the middle market and small enterprises (SMEs), organizations that face the same cyber threats but often lack the resources, knowledge or guidance to act.
In many regions, particularly across Europe and emerging markets, the value proposition of cyber insurance still isn’t fully understood. Brokers play an essential role in education, helping clients see that cyber risk is not just an IT issue, but a financial, operational, and reputational one. Yet, outreach remains fragmented. The conversation about cyber risk simply hasn’t…
