Despite some challenging years, cyber insurance is the fastest growing P&C segment, the Triple-I reports.
By Steve Hallo | February 16, 2024 at 09:19 AM
If the cyber market continues growing at its current clip, the sector will double in size every three years, according to Gallagher Re. Credit: Den Rise/Shutterstock.com
While cyber insurance accounted for just 1% of all property and casualty premiums in 2022, a year that saw direct written premiums (DWP) in the line reach $13 billion, the Insurance Information Institute (Triple-I) anticipates the sector to continue being one of the fastest-growing insurance segments in the years ahead. By 2027, cyber DWP is expected to surpass $33 billion.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com.He can be reached at [emailprotected]
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