GITNUXREPORT 2026

Cyber Insurance Statistics

The global cyber insurance market is growing rapidly due to rising threats and claims.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

Our Commitment to Accuracy

Rigorous fact-checking · Reputable sources · Regular updatesLearn more

Statistic 1

Ransomware claims accounted for 52% of all cyber insurance payouts in 2023, totaling $1.1 billion globally.

Statistic 2

Average ransomware claim cost under cyber insurance rose to $1.54 million in 2023 from $812k in 2022.

Statistic 3

US cyber insurance claims frequency increased 15% YoY to 1,200 reported incidents in 2023.

Statistic 4

Business email compromise (BEC) claims made up 23% of cyber payouts, averaging $120k per claim in 2023.

Statistic 5

Healthcare sector saw 320 cyber claims in 2023, with average payout of $4.2 million.

Statistic 6

Global cyber insurance losses from supply chain attacks reached $650 million in 2023.

Statistic 7

Denial-of-service claims doubled to 180 cases in 2023, costing insurers $200 million.

Statistic 8

Phishing-related cyber claims totaled 950 incidents worldwide in 2023, average $85k payout.

Statistic 9

Manufacturing industry cyber claims hit 450 in 2023, with $950 million in losses.

Statistic 10

Data breach notification costs averaged 28% of total cyber claim payouts in 2023.

Statistic 11

Cloud misconfiguration claims rose 60% to 250 cases, $450M total in 2023.

Statistic 12

Average time to settle cyber claims decreased to 14 months in 2023 from 18 in 2022.

Statistic 13

Third-party cyber claims constituted 35% of total claims volume in 2023.

Statistic 14

Retail sector reported 280 cyber claims in 2023, average loss $1.8 million.

Statistic 15

Crypto-related cyber theft claims totaled $500 million under insurance in 2023.

Statistic 16

Silent cyber claims (unintended coverage) estimated at $300 million in 2023.

Statistic 17

Education sector cyber claims surged 70% to 150 incidents, $250M losses in 2023.

Statistic 18

Average forensic investigation costs in cyber claims hit $350k per incident in 2023.

Statistic 19

Government entities filed 120 cyber claims in 2023, totaling $800 million payouts.

Statistic 20

Insider threat cyber claims averaged $4.5 million each, 45 cases in 2023.

Statistic 21

IoT device-related cyber claims emerged with 80 cases, $150M in 2023.

Statistic 22

Financial services cyber claims frequency: 1 in 20 policies claimed in 2023.

Statistic 23

Post-quantum encryption failure claims projected in 5 cases costing $50M in 2023.

Statistic 24

Cyber extortion claims without ransomware hit 200, $400M in 2023.

Statistic 25

Energy sector 110 cyber claims, average $7.2M payout in 2023.

Statistic 26

Legal defense costs averaged 15% of cyber claim totals at $2.1M avg in 2023.

Statistic 27

Hospitality industry 95 cyber claims, $180M losses from POS breaches in 2023.

Statistic 28

65% of cyber insurance claims in 2023 involved multiple policy triggers like first-party and third-party.

Statistic 29

Cyber insurance market projected to reach $25 billion by 2025, CAGR 17% from 2023.

Statistic 30

By 2027, 75% of enterprises expected to carry cyber limits over $50M.

Statistic 31

Ransomware claims predicted to exceed $2 billion annually by 2025.

Statistic 32

Cyber insurance penetration to hit 60% for SMEs by 2026 globally.

Statistic 33

AI-driven cyber risks to double premiums by 2028, per Deloitte.

Statistic 34

Quantum computing threats to impact 10% of cyber policies by 2030.

Statistic 35

Global cyber losses uninsured to reach $10 trillion/year by 2028.

Statistic 36

Cyber reinsurance capacity to grow to $10B by 2026.

Statistic 37

90% of cyber policies to include AI coverage by 2027.

Statistic 38

Supply chain cyber claims to rise 50% by 2026.

Statistic 39

Cyber insurance to become mandatory for critical infrastructure by 2028 in EU.

Statistic 40

Premium rates expected to soften 5-10% in 2025 for low-risk segments.

Statistic 41

IoT cyber risks to drive $5B new premium demand by 2027.

Statistic 42

Cyber market capacity to triple to $50B by 2030.

Statistic 43

40% CAGR expected for cyber in emerging markets to 2030.

Statistic 44

Parametric cyber products to capture 15% market share by 2028.

Statistic 45

Cyber claims severity to increase 20% annually through 2027.

Statistic 46

Blockchain cyber insurance to emerge as $2B market by 2028.

Statistic 47

Regulations to boost cyber adoption to 80% by 2026.

Statistic 48

Climate-cyber intersection risks to add $1B premiums by 2030.

Statistic 49

Cyber insurance ROI expected to improve with better underwriting tech by 2027.

Statistic 50

The global cyber insurance market was valued at approximately $10.5 billion in direct premiums written in 2022, marking a 25% increase from 2021.

Statistic 51

Cyber insurance premiums in the US reached $6.2 billion in 2022, up 37% year-over-year according to NAIC data.

Statistic 52

The cyber insurance market in Europe grew by 20% in 2023, reaching €4.8 billion in gross written premiums.

Statistic 53

Asia-Pacific cyber insurance market expanded at a CAGR of 18.4% from 2019-2023, hitting $1.2 billion in 2023.

Statistic 54

Global cyber insurance capacity increased to $17 billion in 2023 from $14 billion in 2022.

Statistic 55

US commercial cyber insurance penetration rate rose to 65% among Fortune 500 companies by end of 2023.

Statistic 56

Cyber reinsurance market grew 15% in 2023, with total capacity exceeding $5 billion globally.

Statistic 57

Latin America cyber insurance premiums doubled to $450 million between 2021 and 2023.

Statistic 58

Middle East cyber insurance market saw 30% YoY growth in 2023, valued at $300 million.

Statistic 59

Standalone cyber insurance policies increased by 40% globally from 2020 to 2023.

Statistic 60

Cyber insurance gross written premiums worldwide hit $13.8 billion in 2023, per Beazley reports.

Statistic 61

Canadian cyber insurance market grew 22% to CAD 1.1 billion in 2023.

Statistic 62

Australian cyber premiums reached AUD 750 million in 2023, up 28%.

Statistic 63

UK cyber insurance market valued at £2.1 billion in 2023, 18% growth.

Statistic 64

Cyber insurance submissions to insurers rose 50% in 2023 compared to 2022 in the US.

Statistic 65

Projected global cyber insurance market to reach $23 billion by 2027 at 16% CAGR.

Statistic 66

Cyber insurance in India grew 35% YoY to INR 5,000 crore in FY2023.

Statistic 67

South Africa cyber market expanded to ZAR 2.5 billion in 2023, 25% growth.

Statistic 68

Global cyber ILS (insurance-linked securities) issuance for cyber risks hit $1 billion in 2023.

Statistic 69

Cyber insurance brokerage fees increased 12% in 2023 due to market hardening.

Statistic 70

US P&C insurers' cyber line contributed 1.2% of total premiums in 2023.

Statistic 71

Cyber insurance market in Japan reached JPY 150 billion in 2023, up 20%.

Statistic 72

Brazil cyber premiums grew to BRL 1.2 billion in 2023, 40% increase.

Statistic 73

Cyber capacity in Bermuda grew 15% to $4 billion in 2023.

Statistic 74

Global cyber insurance M&A activity saw 25 deals in 2023 valued at $2.5B.

Statistic 75

Cyber insurance tech insurtech startups raised $800M in VC funding in 2023.

Statistic 76

EU cyber insurance directives boosted market by 10% post-GDPR in 2023.

Statistic 77

Singapore cyber market hit SGD 500 million in 2023, 30% YoY.

Statistic 78

Cyber insurance in healthcare sector grew 45% globally in 2023.

Statistic 79

Total cyber insurance limits purchased worldwide exceeded $50 billion in aggregate coverage in 2023.

Statistic 80

US businesses with cyber insurance filed 72% of all reported cyber incidents in 2023.

Statistic 81

45% of mid-market companies (500-5000 employees) purchased cyber insurance in 2023, up from 32% in 2021.

Statistic 82

Among SMEs, cyber insurance adoption reached 28% globally in 2023.

Statistic 83

Fortune 1000 firms had 92% cyber insurance penetration rate in 2023.

Statistic 84

Healthcare providers adoption of cyber policies hit 78% in US in 2023.

Statistic 85

Retailers cyber insurance coverage rate: 55% in Europe, 2023 survey.

Statistic 86

61% of financial institutions worldwide carried cyber insurance in 2023.

Statistic 87

Manufacturing sector adoption grew to 48% from 35% in 2020, per 2023 data.

Statistic 88

Non-profits cyber insurance uptake: 42% in US, 2023.

Statistic 89

Energy & utilities: 85% have cyber coverage, highest sector rate in 2023.

Statistic 90

Education institutions: 36% adoption rate globally in 2023.

Statistic 91

52% of gig economy platforms insured cyber risks in 2023.

Statistic 92

Government agencies cyber policy adoption: 68% in OECD countries, 2023.

Statistic 93

Tech startups cyber insurance rate: 71% in Silicon Valley, 2023.

Statistic 94

Construction firms: 29% cyber insured, lowest sector in 2023 survey.

Statistic 95

Average cyber policy limit purchased: $100 million for large corps in 2023.

Statistic 96

40% increase in cyber endorsements added to package policies in 2023.

Statistic 97

Women-led businesses cyber adoption: 38%, vs 45% male-led in 2023.

Statistic 98

Cyber insurance bundled with D&O policies in 25% of cases in 2023.

Statistic 99

67% of insured firms renewed cyber policies without changes in 2023.

Statistic 100

Public companies SEC filers: 88% disclosed cyber insurance in 10-Ks 2023.

Statistic 101

SMBs in cloud-heavy ops: 55% cyber insured vs 20% on-prem in 2023.

Statistic 102

Insurance brokers recommend cyber to 95% of clients in 2023 surveys.

Statistic 103

Cyber policy attachment points averaged $5M deductible for enterprises 2023.

Statistic 104

73% of policies included business interruption coverage in 2023.

Statistic 105

Adoption gap: 35% uninsured cite cost as barrier in 2023 poll.

Statistic 106

Multi-line insurers offer cyber to 82% of P&C clients in 2023.

Statistic 107

Cyber insurance global average premium increased 25% YoY to $45k for $1M limit in 2023.

Statistic 108

US large enterprise cyber rates up 15% in Q4 2023, averaging $0.12/$100 limit.

Statistic 109

SME cyber premiums rose 30% to $12k annual for basic coverage in 2023.

Statistic 110

Healthcare cyber rates hardened 40%, $0.35/$100 for hospitals in 2023.

Statistic 111

Financial services cyber premiums averaged $150k for $10M limit, up 20% in 2023.

Statistic 112

Retail cyber rate-on-line increased to 2.1% in 2023 from 1.6% 2022.

Statistic 113

Global cyber reinsurance pricing up 10-15% for peak risks in 2023.

Statistic 114

Manufacturing cyber premiums hiked 28%, avg $25k for mid-size in 2023.

Statistic 115

Deductible levels rose 20% to $250k average for enterprises 2023.

Statistic 116

Cyber premium as % of total P&C rose to 1.5% globally in 2023.

Statistic 117

UK cyber rates stabilized at +5% YoY increase by end-2023.

Statistic 118

Ransomware-hardened markets saw 50% premium jumps for high-risk in 2023.

Statistic 119

Energy sector cyber rates at $0.45/$100 limit, up 18% in 2023.

Statistic 120

Cyber policy pricing models shifted to risk-based, 35% premium variance in 2023.

Statistic 121

Australia cyber premiums up 22% to AUD 15k avg for SMEs 2023.

Statistic 122

Limits pricing softened 5% for low-risk profiles in late 2023.

Statistic 123

Cyber premium growth outpaced P&C at 18% vs 5% in 2023.

Statistic 124

EU cyber rates averaged €0.10/$100, up 12% YoY 2023.

Statistic 125

Tech sector saw premium decreases of 8% for best-in-class security 2023.

Statistic 126

Average cyber premium retention rate for insurers: 92% in 2023.

Statistic 127

Hospital cyber premiums doubled since 2021 to $500k avg 2023.

Statistic 128

Cyber pricing analytics reduced rates 10% for modeled risks in 2023.

Statistic 129

Global avg cyber rate-on-line: 1.8% up from 1.4% in 2022.

Statistic 130

Non-attached cyber premiums for consultants up 25% to $8k 2023.

Statistic 131

Cyber premium density (premium/revenue) at 0.15% for enterprises 2023.

Statistic 132

Peak cyber towers priced at 0.9% RoL in Q1 2023, stabilizing later.

Statistic 133

Cyber premiums forecast to grow 12% in 2024 post-2023 hardening.

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While ransomware claims skyrocketed to over a billion dollars and premiums surged by double digits across the globe in 2023, the explosive growth of the cyber insurance market reveals it's no longer an optional add-on but a critical pillar of modern business resilience.

Key Takeaways

The global cyber insurance market was valued at approximately $10.5 billion in direct premiums written in 2022, marking a 25% increase from 2021.
Cyber insurance premiums in the US reached $6.2 billion in 2022, up 37% year-over-year according to NAIC data.
The cyber insurance market in Europe grew by 20% in 2023, reaching €4.8 billion in gross written premiums.
Ransomware claims accounted for 52% of all cyber insurance payouts in 2023, totaling $1.1 billion globally.
Average ransomware claim cost under cyber insurance rose to $1.54 million in 2023 from $812k in 2022.
US cyber insurance claims frequency increased 15% YoY to 1,200 reported incidents in 2023.
US businesses with cyber insurance filed 72% of all reported cyber incidents in 2023.
45% of mid-market companies (500-5000 employees) purchased cyber insurance in 2023, up from 32% in 2021.
Among SMEs, cyber insurance adoption reached 28% globally in 2023.
Cyber insurance global average premium increased 25% YoY to $45k for $1M limit in 2023.
US large enterprise cyber rates up 15% in Q4 2023, averaging $0.12/$100 limit.
SME cyber premiums rose 30% to $12k annual for basic coverage in 2023.
Cyber insurance market projected to reach $25 billion by 2025, CAGR 17% from 2023.
By 2027, 75% of enterprises expected to carry cyber limits over $50M.
Ransomware claims predicted to exceed $2 billion annually by 2025.

The global cyber insurance market is growing rapidly due to rising threats and claims.

Claims Data

Ransomware claims accounted for 52% of all cyber insurance payouts in 2023, totaling $1.1 billion globally.
Average ransomware claim cost under cyber insurance rose to $1.54 million in 2023 from $812k in 2022.
US cyber insurance claims frequency increased 15% YoY to 1,200 reported incidents in 2023.
Business email compromise (BEC) claims made up 23% of cyber payouts, averaging $120k per claim in 2023.
Healthcare sector saw 320 cyber claims in 2023, with average payout of $4.2 million.
Global cyber insurance losses from supply chain attacks reached $650 million in 2023.
Denial-of-service claims doubled to 180 cases in 2023, costing insurers $200 million.
Phishing-related cyber claims totaled 950 incidents worldwide in 2023, average $85k payout.
Manufacturing industry cyber claims hit 450 in 2023, with $950 million in losses.
Data breach notification costs averaged 28% of total cyber claim payouts in 2023.
Cloud misconfiguration claims rose 60% to 250 cases, $450M total in 2023.
Average time to settle cyber claims decreased to 14 months in 2023 from 18 in 2022.
Third-party cyber claims constituted 35% of total claims volume in 2023.
Retail sector reported 280 cyber claims in 2023, average loss $1.8 million.
Crypto-related cyber theft claims totaled $500 million under insurance in 2023.
Silent cyber claims (unintended coverage) estimated at $300 million in 2023.
Education sector cyber claims surged 70% to 150 incidents, $250M losses in 2023.
Average forensic investigation costs in cyber claims hit $350k per incident in 2023.
Government entities filed 120 cyber claims in 2023, totaling $800 million payouts.
Insider threat cyber claims averaged $4.5 million each, 45 cases in 2023.
IoT device-related cyber claims emerged with 80 cases, $150M in 2023.
Financial services cyber claims frequency: 1 in 20 policies claimed in 2023.
Post-quantum encryption failure claims projected in 5 cases costing $50M in 2023.
Cyber extortion claims without ransomware hit 200, $400M in 2023.
Energy sector 110 cyber claims, average $7.2M payout in 2023.
Legal defense costs averaged 15% of cyber claim totals at $2.1M avg in 2023.
Hospitality industry 95 cyber claims, $180M losses from POS breaches in 2023.
65% of cyber insurance claims in 2023 involved multiple policy triggers like first-party and third-party.

Claims Data Interpretation

With ransomware now officially holding the cyber insurance market hostage, shelling out over a billion dollars in ransom alone, it's clear that digital extortion has become the industry's most profitable—and expensive—line item.

Future Outlook

Cyber insurance market projected to reach $25 billion by 2025, CAGR 17% from 2023.
By 2027, 75% of enterprises expected to carry cyber limits over $50M.
Ransomware claims predicted to exceed $2 billion annually by 2025.
Cyber insurance penetration to hit 60% for SMEs by 2026 globally.
AI-driven cyber risks to double premiums by 2028, per Deloitte.
Quantum computing threats to impact 10% of cyber policies by 2030.
Global cyber losses uninsured to reach $10 trillion/year by 2028.
Cyber reinsurance capacity to grow to $10B by 2026.
90% of cyber policies to include AI coverage by 2027.
Supply chain cyber claims to rise 50% by 2026.
Cyber insurance to become mandatory for critical infrastructure by 2028 in EU.
Premium rates expected to soften 5-10% in 2025 for low-risk segments.
IoT cyber risks to drive $5B new premium demand by 2027.
Cyber market capacity to triple to $50B by 2030.
40% CAGR expected for cyber in emerging markets to 2030.
Parametric cyber products to capture 15% market share by 2028.
Cyber claims severity to increase 20% annually through 2027.
Blockchain cyber insurance to emerge as $2B market by 2028.
Regulations to boost cyber adoption to 80% by 2026.
Climate-cyber intersection risks to add $1B premiums by 2030.
Cyber insurance ROI expected to improve with better underwriting tech by 2027.

Future Outlook Interpretation

As cyber insurance careens toward being a $25 billion market, it's clear the industry is booming not because the world is getting safer, but because we're all frantically betting against our own digital house catching fire.

Market Growth

The global cyber insurance market was valued at approximately $10.5 billion in direct premiums written in 2022, marking a 25% increase from 2021.
Cyber insurance premiums in the US reached $6.2 billion in 2022, up 37% year-over-year according to NAIC data.
The cyber insurance market in Europe grew by 20% in 2023, reaching €4.8 billion in gross written premiums.
Asia-Pacific cyber insurance market expanded at a CAGR of 18.4% from 2019-2023, hitting $1.2 billion in 2023.
Global cyber insurance capacity increased to $17 billion in 2023 from $14 billion in 2022.
US commercial cyber insurance penetration rate rose to 65% among Fortune 500 companies by end of 2023.
Cyber reinsurance market grew 15% in 2023, with total capacity exceeding $5 billion globally.
Latin America cyber insurance premiums doubled to $450 million between 2021 and 2023.
Middle East cyber insurance market saw 30% YoY growth in 2023, valued at $300 million.
Standalone cyber insurance policies increased by 40% globally from 2020 to 2023.
Cyber insurance gross written premiums worldwide hit $13.8 billion in 2023, per Beazley reports.
Canadian cyber insurance market grew 22% to CAD 1.1 billion in 2023.
Australian cyber premiums reached AUD 750 million in 2023, up 28%.
UK cyber insurance market valued at £2.1 billion in 2023, 18% growth.
Cyber insurance submissions to insurers rose 50% in 2023 compared to 2022 in the US.
Projected global cyber insurance market to reach $23 billion by 2027 at 16% CAGR.
Cyber insurance in India grew 35% YoY to INR 5,000 crore in FY2023.
South Africa cyber market expanded to ZAR 2.5 billion in 2023, 25% growth.
Global cyber ILS (insurance-linked securities) issuance for cyber risks hit $1 billion in 2023.
Cyber insurance brokerage fees increased 12% in 2023 due to market hardening.
US P&C insurers' cyber line contributed 1.2% of total premiums in 2023.
Cyber insurance market in Japan reached JPY 150 billion in 2023, up 20%.
Brazil cyber premiums grew to BRL 1.2 billion in 2023, 40% increase.
Cyber capacity in Bermuda grew 15% to $4 billion in 2023.
Global cyber insurance M&A activity saw 25 deals in 2023 valued at $2.5B.
Cyber insurance tech insurtech startups raised $800M in VC funding in 2023.
EU cyber insurance directives boosted market by 10% post-GDPR in 2023.
Singapore cyber market hit SGD 500 million in 2023, 30% YoY.
Cyber insurance in healthcare sector grew 45% globally in 2023.
Total cyber insurance limits purchased worldwide exceeded $50 billion in aggregate coverage in 2023.

Market Growth Interpretation

The global scramble for cyber insurance is skyrocketing at a relentless, double-digit pace, painting a clear picture: businesses are paying billions to hedge their bets against a digital apocalypse they now see as inevitable.

Policy Adoption

US businesses with cyber insurance filed 72% of all reported cyber incidents in 2023.
45% of mid-market companies (500-5000 employees) purchased cyber insurance in 2023, up from 32% in 2021.
Among SMEs, cyber insurance adoption reached 28% globally in 2023.
Fortune 1000 firms had 92% cyber insurance penetration rate in 2023.
Healthcare providers adoption of cyber policies hit 78% in US in 2023.
Retailers cyber insurance coverage rate: 55% in Europe, 2023 survey.
61% of financial institutions worldwide carried cyber insurance in 2023.
Manufacturing sector adoption grew to 48% from 35% in 2020, per 2023 data.
Non-profits cyber insurance uptake: 42% in US, 2023.
Energy & utilities: 85% have cyber coverage, highest sector rate in 2023.
Education institutions: 36% adoption rate globally in 2023.
52% of gig economy platforms insured cyber risks in 2023.
Government agencies cyber policy adoption: 68% in OECD countries, 2023.
Tech startups cyber insurance rate: 71% in Silicon Valley, 2023.
Construction firms: 29% cyber insured, lowest sector in 2023 survey.
Average cyber policy limit purchased: $100 million for large corps in 2023.
40% increase in cyber endorsements added to package policies in 2023.
Women-led businesses cyber adoption: 38%, vs 45% male-led in 2023.
Cyber insurance bundled with D&O policies in 25% of cases in 2023.
67% of insured firms renewed cyber policies without changes in 2023.
Public companies SEC filers: 88% disclosed cyber insurance in 10-Ks 2023.
SMBs in cloud-heavy ops: 55% cyber insured vs 20% on-prem in 2023.
Insurance brokers recommend cyber to 95% of clients in 2023 surveys.
Cyber policy attachment points averaged $5M deductible for enterprises 2023.
73% of policies included business interruption coverage in 2023.
Adoption gap: 35% uninsured cite cost as barrier in 2023 poll.
Multi-line insurers offer cyber to 82% of P&C clients in 2023.

Policy Adoption Interpretation

Cyber insurance adoption data reveals a telling trend: as businesses increasingly recognize that digital threats don't discriminate by industry, many are concluding that betting against a breach is a far riskier gamble than paying the premium.

Premium Trends

Cyber insurance global average premium increased 25% YoY to $45k for $1M limit in 2023.
US large enterprise cyber rates up 15% in Q4 2023, averaging $0.12/$100 limit.
SME cyber premiums rose 30% to $12k annual for basic coverage in 2023.
Healthcare cyber rates hardened 40%, $0.35/$100 for hospitals in 2023.
Financial services cyber premiums averaged $150k for $10M limit, up 20% in 2023.
Retail cyber rate-on-line increased to 2.1% in 2023 from 1.6% 2022.
Global cyber reinsurance pricing up 10-15% for peak risks in 2023.
Manufacturing cyber premiums hiked 28%, avg $25k for mid-size in 2023.
Deductible levels rose 20% to $250k average for enterprises 2023.
Cyber premium as % of total P&C rose to 1.5% globally in 2023.
UK cyber rates stabilized at +5% YoY increase by end-2023.
Ransomware-hardened markets saw 50% premium jumps for high-risk in 2023.
Energy sector cyber rates at $0.45/$100 limit, up 18% in 2023.
Cyber policy pricing models shifted to risk-based, 35% premium variance in 2023.
Australia cyber premiums up 22% to AUD 15k avg for SMEs 2023.
Limits pricing softened 5% for low-risk profiles in late 2023.
Cyber premium growth outpaced P&C at 18% vs 5% in 2023.
EU cyber rates averaged €0.10/$100, up 12% YoY 2023.
Tech sector saw premium decreases of 8% for best-in-class security 2023.
Average cyber premium retention rate for insurers: 92% in 2023.
Hospital cyber premiums doubled since 2021 to $500k avg 2023.
Cyber pricing analytics reduced rates 10% for modeled risks in 2023.
Global avg cyber rate-on-line: 1.8% up from 1.4% in 2022.
Non-attached cyber premiums for consultants up 25% to $8k 2023.
Cyber premium density (premium/revenue) at 0.15% for enterprises 2023.
Peak cyber towers priced at 0.9% RoL in Q1 2023, stabilizing later.
Cyber premiums forecast to grow 12% in 2024 post-2023 hardening.

Premium Trends Interpretation

As the global threat landscape turned ransomware into a cost-of-doing-business tax, cyber insurers in 2023 politely responded by collectively turning the premium screw, proving that in the digital age, security shortcomings now have a very precise—and sharply rising—price tag.