Cyberattacks Fuel Explosive Growth in Cyber Insurance Market

A recent surge in high-profile cyberattacks is creating a lucrative opportunity for insurers like Munich Re and Chubb. The market is booming, driven by AI-powered attacks that are becoming more frequent and devastating. Munich Re projects the global cyber insurance market to reach $16.3 billion in 2025, up from $15.3 billion in 2024. Global premiums are expected to more than double to roughly $30 billion by 2030, growing at over 10% annually.