Cyber insurance - Statistics & Facts

Published by Statista Research Department, May 22, 2018
Cyber insurance has emerged as a response to growing number of data breaches worldwide and the extent of damage that they cause to businesses. Data breaches are perceived as one of the leading risks to businesses as, among other factors, they can have a huge influence on the company earnings. In the United States, the average cost of cyber crime amounted to 21.22 million U.S. dollars in 2017. It is not surprising, then, that companies have started to look for ways of protecting themselves against cyber threats.

Interesting statistics

In the following 4 chapters, you will quickly find the 28 most important statistics relating to "Cyber insurance".

In 2015, 63 percent of global companies were insured against loss of income due to data breach, while more than half of the companies without cyber liability insurance considered purchasing it. The share of businesses with cyber insurance worldwide increased with company revenue. Only 3.8 percent of companies with revenues lower than 2.5 million U.S. dollars owned cyber insurance. Among companies with revenues exceeding five billion U.S. dollars, this number was equal to 25.9 percent.

In the United States, 33 percent of companies owned cyber liability insurance in 2014. In that year, the U.S. industry sector with highest share of companies purchasing the insurance was the financial services sector. The average limit of purchased cyber liability insurance by the U.S. financial institutions sector amounted to 23.5 million U.S. dollars. More than 82 percent of U.S. companies reported that they were able to buy cyber insurance that met their needs in 2014. The companies not protected by cyber insurance cited the complicated nature of cyber insurance, as well as a perception of insufficient threat or too high costs, as the reason for their lack of protection.

Cyber insurance

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!

Important key figures

The most important key figures provide you with a compact summary of the topic of "Cyber insurance" and take you straight to the corresponding statistics.

U.S. market

Coverage in the U.S.

Cyber crime

More interesting topics from the industry "Insurance"

Related topics

Other studies on the topic

Any more questions?

Any more questions?

Get in touch with us quickly and easily.
We are happy to help!

Get in touch with us quickly and easily.
We are happy to help!

Do you still have questions?

Feel free to contact us anytime using our contact form or visit our FAQ page.