The global cyber insurance market stands at 11.2 billion dollars. Breaches require an average of 83 days to contain. Claims take 284 days to settle.
Key Takeaways
- $11.2 billion global cyber insurance market size in 2023, up from $9.0 billion in 2022
- $4.3 billion global cyber insurance market size in 2022 (forecasting continued growth through 2030)
- 34% of commercial cyber insurance policies had limits of at least $1 million (US) in 2022
- The NAIC reported 1.3 million cybersecurity-related complaints and inquiries between 2018–2023 (consumer-facing)
- US HHS/OCR breach notifications exceeded 132 million individuals affected cumulatively through 2024 (public reporting)
- 46% of US companies purchased cyber insurance to meet contractual requirements in 2023
- In 2024, 64% of UK boards were concerned about cyber risk and liability (board survey result)
- US cyber insurance underwriting losses exceeded $8 billion in 2020 (industry estimates)
- Average time to contain a breach was 83 days in 2023
- In 2023, 36% of breaches involved the use of stolen credentials per Verizon DBIR
- Cyber insurance availability was constrained in 2022 for ransomware coverage in many markets (carrier appetite tightened)
- Cyber insurance premiums increased by 20%–50% in 2023 for some industries and coverages (US industry reports)
- In 2024, 43% of cyber insurance buyers said deductibles increased
- 50% of cyber insurance claims are associated with business interruption loss calculations (industry estimate)
- Average cyber claim settlement time was 284 days in 2023 (claims analytics)
Cyber insurance is rapidly growing but underwriting and costs are rising, as breaches and exclusions shape coverage.
Related reading
01 · Category
Market Size2 stats
01
$11.2 billion global cyber insurance market size in 2023, up from $9.0 billion in 2022
02
$4.3 billion global cyber insurance market size in 2022 (forecasting continued growth through 2030)
Interpretation
Market Size Interpretation
From a market size perspective, the global cyber insurance market is clearly expanding with growth from $9.0 billion in 2022 to $11.2 billion in 2023, reinforcing the broader upward trend that takes the 2022 figure of $4.3 billion as the baseline for continued growth through 2030.
02 · Category
Industry Trends3 stats
01
34% of commercial cyber insurance policies had limits of at least $1 million (US) in 2022
02
The NAIC reported 1.3 million cybersecurity-related complaints and inquiries between 2018–2023 (consumer-facing)
03
US HHS/OCR breach notifications exceeded 132 million individuals affected cumulatively through 2024 (public reporting)
Interpretation
Industry Trends Interpretation
In the industry trends behind cyber insurance, the fact that 34% of commercial policies in 2022 carried limits of at least $1 million alongside a surge of 1.3 million cybersecurity complaints and inquiries from 2018 to 2023 shows the market is responding to rising risk and demand for higher coverage.
03 · Category
User Adoption2 stats
01
46% of US companies purchased cyber insurance to meet contractual requirements in 2023
02
In 2024, 64% of UK boards were concerned about cyber risk and liability (board survey result)
Interpretation
User Adoption Interpretation
From a user adoption perspective, purchasing cyber insurance and engaging with cyber risk is clearly becoming more mainstream as 46% of US companies bought coverage to meet contractual requirements in 2023 and 64% of UK boards in 2024 reported concern about cyber risk and liability.
More related reading
04 · Category
Losses And Risk3 stats
01
US cyber insurance underwriting losses exceeded $8 billion in 2020 (industry estimates)
02
Average time to contain a breach was 83 days in 2023
03
In 2023, 36% of breaches involved the use of stolen credentials per Verizon DBIR
Interpretation
Losses And Risk Interpretation
For the losses and risk category, cyber insurers faced underwriting losses topping $8 billion in 2020 while breaches still took 83 days on average to contain in 2023 and 36% involved stolen credentials, underscoring both financial strain and operational exposure.
05 · Category
Pricing And Underwriting6 stats
01
Cyber insurance availability was constrained in 2022 for ransomware coverage in many markets (carrier appetite tightened)
02
Cyber insurance premiums increased by 20%–50% in 2023 for some industries and coverages (US industry reports)
03
In 2024, 43% of cyber insurance buyers said deductibles increased
04
40% of cyber insurance policies have a non-affirmative cyber exclusion or expanded war/terrorism-related language (survey)
05
37% of buyers reported insurers require endpoint detection and response (EDR) as a prerequisite in 2023
06
Underwriting scrutiny was highest in the US; 62% of insurers required annual security testing for higher limits in 2023
Interpretation
Pricing And Underwriting Interpretation
In the Pricing and Underwriting landscape, cyber insurance is getting more expensive and harder to qualify for, with premiums rising 20% to 50% in 2023 and 62% of US insurers requiring annual security testing for higher limits while 43% of buyers report deductible increases in 2024.
06 · Category
Performance Metrics5 stats
01
50% of cyber insurance claims are associated with business interruption loss calculations (industry estimate)
02
Average cyber claim settlement time was 284 days in 2023 (claims analytics)
03
Loss adjustment expense accounted for 12% of cyber claim cost in 2022 (industry dataset)
04
In 2023, 43% of cyber risk purchasers reported that cyber insurance helped them access incident response vendors faster (survey)
05
Cyber insurance buyers that conduct tabletop exercises reported 25% lower expected downtime per insurer modeling (survey/benchmark)
Interpretation
Performance Metrics Interpretation
Performance Metrics show that cyber insurance is not only responding to losses but also affecting operational recovery, with 43% of buyers saying it helped them access incident response vendors faster and tabletop exercises linked to a 25% lower expected downtime per insurer modeling, alongside an average 284-day claim settlement time in 2023.
report visual · Key figures
Cyber insurance market growth
Global cyber insurance market size continued rising from 2022 to 2023.
$4.3 billion
$4.3 billion global cyber insurance market size in 2022 (forecasting continued growth through 2030)
$11.2 billion
$11.2 billion global cyber insurance market size in 2023, up from $9.0 billion in 2022
34%
34% of commercial cyber insurance policies had limits of at least $1 million (US) in 2022
source-verifiedmarketsandmarkets.com · imarcgroup.com · iii.org2023
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
David Kowalski. (2026, February 13). Cyber Insurance Statistics. Gitnux. https://gitnux.org/cyber-insurance-statistics
MLA
David Kowalski. "Cyber Insurance Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/cyber-insurance-statistics.
Chicago
David Kowalski. 2026. "Cyber Insurance Statistics." Gitnux. https://gitnux.org/cyber-insurance-statistics.
Sources & references
21 datasets cited across this report · attribution is report-level
+4 additional datasets cited (not shown individually)