According to a recent research report by MarketsandMarkets, the global Cybersecurity insurance market size is projected to grow from $11.9 billion in 2022 to $29.2 billion by 2027.
Cybercrime insurance protects organizations from financial losses relating to damage to, or loss of, information from networks and IT systems. This includes reputation loss, the cost of business interruption, infringement of regulatory data standards (such as GDPR or CCPA), and attacks from bad actors (e.g., ransomware, data breaches, etc.), depending on the coverage taken.
By organization size, the small and medium enterprise segment is expected to have the highest growth rate during the forecast period.
Asia Pacific is expected to have the highest growth rate during the forecast period.
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