Cyber Insurance Market Surges to $20.88 Billion Amid Evolving Threats
Cyber Insurance Market Surges to $20.88 Billion Amid Evolving Threats

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The global cyber insurance market has experienced significant growth in the first half of 2024, expanding to $20.88 billion from $16.66 billion in 2023. This shift indicates a transition from the harder market conditions of previous years toward a more competitive landscape, characterized by lower rates and comprehensive policies. However, many organizations remain inadequately insured; a report revealed that 87% of managers believe their companies lack adequate protection against cyber risks. As the threat landscape evolves with emerging challenges like ransomware and AI-driven attacks, experts recommend businesses bolster their cybersecurity measures and collaborate closely with insurance brokers for tailored coverage solutions.
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